Lodge has updated their BUY recommendation on BLT today following the announcement of the successful CR. They have maintained their BUY rating and have now increased their 12-month target on the stock to 3.2 cents - citing the removal of funding risk as a major value creation milestone for the company.
" Funding risk was the major risk facing Benitec and this risk has now been alleviated. As such, the company can commence proving its technology in the clinic. The next two years is likely to be a very exciting time for the company and, pending clinical trial results, a rewarding one for shareholders. Nearer term investors can look forward to US Recombinant DNA Advisory Committee review of, Investigational New Drug Application submission for, and subsequent commencement of a phase I/IIa clinical trial for the company’s lead HCV therapeutic; all of which should enhance shareholder value."
Gotta agree. A big step forward today and exciting times ahead...
- RS
blt re-rating 12 month target 3.2c
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