Benitec Biopharma Limited (NASDAQ:BNTC) Given Average Recommendation of “Moderate Buy” by Brokerages

Benitec Biopharma Limited (NASDAQ:BNTC) has been given a consensus recommendation of “Moderate Buy” by the eight research firms that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $26.25.

Several analysts have issued reports on the company. Citizens Jmp upped their target price on Benitec Biopharma from $20.00 to $22.00 and gave the company a “market outperform” rating in a report on Tuesday, November 4th. Zacks Research raised shares of Benitec Biopharma from a “strong sell” rating to a “hold” rating in a research report on Friday, November 14th. Wall Street Zen upgraded shares of Benitec Biopharma from a “sell” rating to a “hold” rating in a research report on Saturday, November 22nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Benitec Biopharma in a research note on Wednesday, October 8th. Finally, Citigroup reiterated an “outperform” rating on shares of Benitec Biopharma in a report on Tuesday, November 4th.

Insiders Place Their Bets

In other Benitec Biopharma news, Director Suvretta Capital Management, L acquired 1,481,481 shares of the stock in a transaction that occurred on Friday, November 7th. The stock was bought at an average cost of $13.50 per share, for a total transaction of $19,999,993.50. Following the completion of the transaction, the director owned 9,538,175 shares of the company’s stock, valued at approximately $128,765,362.50. The trade was a 18.39% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 4.80% of the company’s stock.

Hedge Funds Weigh In On Benitec Biopharma

A number of hedge funds have recently modified their holdings of the business. Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of Benitec Biopharma during the 2nd quarter worth about $38,000. BNP Paribas Financial Markets boosted its stake in Benitec Biopharma by 44.5% during the third quarter. BNP Paribas Financial Markets now owns 2,937 shares of the biotechnology company’s stock worth $41,000 after buying an additional 904 shares during the period. Russell Investments Group Ltd. acquired a new stake in shares of Benitec Biopharma during the third quarter valued at about $79,000. JPMorgan Chase & Co. acquired a new stake in shares of Benitec Biopharma during the second quarter valued at about $80,000. Finally, Bank of America Corp DE raised its stake in shares of Benitec Biopharma by 2,255.8% in the 2nd quarter. Bank of America Corp DE now owns 6,879 shares of the biotechnology company’s stock valued at $80,000 after acquiring an additional 6,587 shares during the period. 52.19% of the stock is currently owned by hedge funds and other institutional investors.

Benitec Biopharma Trading Down 7.6%

Shares of NASDAQ BNTC opened at $11.98 on Monday. The stock has a market cap of $405.64 million, a PE ratio of -9.90 and a beta of 0.20. Benitec Biopharma has a 12-month low of $9.70 and a 12-month high of $17.15. The company has a 50-day moving average of $14.11 and a 200 day moving average of $13.62.

Benitec Biopharma (NASDAQ:BNTC) last issued its earnings results on Friday, November 14th. The biotechnology company reported ($0.22) earnings per share for the quarter, topping the consensus estimate of ($0.35) by $0.13. On average, sell-side analysts forecast that Benitec Biopharma will post -1.48 EPS for the current fiscal year.

About Benitec Biopharma

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.