IvelinRadkov
Piper Sandler initiated coverage of Benitec Biopharma (NASDAQ:BNTC) with an overweight rating, stating it believes the therapy BB-301 has a strong probability of success in the treatment of oculopharyngeal muscular dystrophy, or OPMD.
The investment bank said it believes “strong first patient data and thoughtful Phase 1b/Phase 2a design ensures high probability of success in OPMD,” with potential FDA pivotal trial design discussions in early 2026.
Piper also noted that the OPMD “landscape was empty” and that BB-301 “goes after the root cause” of the illness.
The investment bank set its price target for the stock at $30.
