Benitec Biopharma (NASDAQ:BNTC) Receives “Buy” Rating from Guggenheim

Guggenheim reissued their buy rating on shares of Benitec Biopharma (NASDAQ:BNTC) in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have a $17.00 price objective on the biotechnology company’s stock.

Several other analysts also recently commented on BNTC. JMP Securities upped their price target on shares of Benitec Biopharma from $16.00 to $18.00 and gave the company a “market outperform” rating in a research report on Monday, October 14th. Oppenheimer initiated coverage on shares of Benitec Biopharma in a report on Wednesday, October 16th. They issued an “outperform” rating and a $35.00 target price for the company. Finally, Piper Sandler reissued an “overweight” rating on shares of Benitec Biopharma in a report on Friday, October 18th. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $22.60.

Benitec Biopharma Stock Up 2.5 %

BNTC opened at $10.00 on Tuesday. Benitec Biopharma has a 52 week low of $2.69 and a 52 week high of $12.89. The business’s 50 day moving average is $10.22 and its two-hundred day moving average is $9.15. The firm has a market cap of $232.20 million, a price-to-earnings ratio of -3.09 and a beta of 0.88.

Institutional Investors Weigh In On Benitec Biopharma

A number of institutional investors have recently added to or reduced their stakes in BNTC. Nantahala Capital Management LLC acquired a new stake in shares of Benitec Biopharma in the 2nd quarter valued at approximately $5,881,000. Janus Henderson Group PLC raised its position in Benitec Biopharma by 35.5% in the first quarter. Janus Henderson Group PLC now owns 244,491 shares of the biotechnology company’s stock worth $1,266,000 after acquiring an additional 64,092 shares in the last quarter. Simplify Asset Management Inc. lifted its holdings in Benitec Biopharma by 127.5% in the third quarter. Simplify Asset Management Inc. now owns 116,535 shares of the biotechnology company’s stock valued at $1,071,000 after acquiring an additional 65,319 shares during the period. Suvretta Capital Management LLC boosted its position in shares of Benitec Biopharma by 422.0% during the 3rd quarter. Suvretta Capital Management LLC now owns 8,829,053 shares of the biotechnology company’s stock worth $81,139,000 after purchasing an additional 7,137,763 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Benitec Biopharma by 53.0% during the 2nd quarter. GAMMA Investing LLC now owns 5,438 shares of the biotechnology company’s stock worth $38,000 after purchasing an additional 1,884 shares during the period. Hedge funds and other institutional investors own 52.19% of the company’s stock.

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.