Benitec Biopharma Inc. (NASDAQ:BNTC) Receives Average Rating of “Buy” from Analysts

Benitec Biopharma Inc. (NASDAQ:BNTC) has been assigned an average recommendation of “Buy” from the nine research firms that are covering the stock, MarketBeat reports. Seven research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $24.71.

Several equities analysts have issued reports on BNTC shares. JMP Securities raised their price objective on Benitec Biopharma from $18.00 to $20.00 and gave the stock a “market outperform” rating in a report on Thursday, April 10th. HC Wainwright reissued a “buy” rating and issued a $28.00 target price on shares of Benitec Biopharma in a research report on Monday, March 24th.

Benitec Biopharma Stock Performance

BNTC opened at $15.05 on Friday. Benitec Biopharma has a one year low of $5.74 and a one year high of $16.90. The company has a market cap of $352.94 million, a P/E ratio of -9.97 and a beta of 0.34. The business’s 50-day simple moving average is $13.41 and its 200-day simple moving average is $11.84.

Benitec Biopharma (NASDAQ:BNTC) last announced its quarterly earnings results on Friday, February 14th. The biotechnology company reported ($0.36) EPS for the quarter, beating the consensus estimate of ($0.55) by $0.19. As a group, analysts predict that Benitec Biopharma will post -1.48 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Suvretta Capital Management, L purchased 900,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 26th. The stock was purchased at an average cost of $13.00 per share, with a total value of $11,700,000.00. Following the completion of the acquisition, the director now directly owns 8,793,245 shares of the company’s stock, valued at approximately $114,312,185. This trade represents a 11.40 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.30% of the company’s stock.

Institutional Trading of Benitec Biopharma

Hedge funds have recently modified their holdings of the business. Ameriprise Financial Inc. lifted its stake in shares of Benitec Biopharma by 138.4% in the fourth quarter. Ameriprise Financial Inc. now owns 35,476 shares of the biotechnology company’s stock valued at $448,000 after purchasing an additional 20,597 shares during the period. 683 Capital Management LLC purchased a new position in Benitec Biopharma in the 4th quarter valued at approximately $452,000. Northern Trust Corp increased its stake in Benitec Biopharma by 54.2% in the 4th quarter. Northern Trust Corp now owns 38,200 shares of the biotechnology company’s stock valued at $482,000 after purchasing an additional 13,425 shares in the last quarter. MYDA Advisors LLC acquired a new position in Benitec Biopharma during the fourth quarter worth $632,000. Finally, Geode Capital Management LLC boosted its position in Benitec Biopharma by 31.3% during the third quarter. Geode Capital Management LLC now owns 83,987 shares of the biotechnology company’s stock worth $772,000 after purchasing an additional 20,012 shares in the last quarter. 52.19% of the stock is owned by institutional investors and hedge funds.

Benitec Biopharma Company Profile

Benitec Biopharma Inc, a clinical-stage biotechnology company, focuses on the development of novel genetic medicines. The company develops DNA-directed RNA interference-based therapeutics for chronic and life-threatening human conditions. It is developing BB-301, an adeno-associated virus based gene therapy agent for treating oculopharyngeal muscular dystrophy.