Analysts Set Benitec Biopharma Inc. (NASDAQ:BNTC) PT at $24.43

Shares of Benitec Biopharma Inc. (NASDAQ:BNTC) have earned a consensus recommendation of “Buy” from the nine ratings firms that are presently covering the firm, Marketbeat.com reports. Seven analysts have rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $24.43.

BNTC has been the topic of several research analyst reports. Robert W. Baird began coverage on shares of Benitec Biopharma in a research note on Friday, December 13th. They set an “outperform” rating and a $30.00 price target on the stock. Guggenheim reiterated a “buy” rating and issued a $17.00 price objective on shares of Benitec Biopharma in a research report on Tuesday, December 3rd. HC Wainwright initiated coverage on Benitec Biopharma in a research report on Monday, December 16th. They set a “buy” rating and a $28.00 target price for the company. JMP Securities raised their price target on Benitec Biopharma from $16.00 to $18.00 and gave the company a “market outperform” rating in a report on Monday, October 14th. Finally, Oppenheimer began coverage on Benitec Biopharma in a research report on Wednesday, October 16th. They issued an “outperform” rating and a $35.00 price objective for the company.

Benitec Biopharma Stock Up 1.0 %

Shares of NASDAQ:BNTC opened at $12.63 on Monday. The firm has a market cap of $293.22 million, a P/E ratio of -4.45 and a beta of 0.89. Benitec Biopharma has a 12 month low of $2.69 and a 12 month high of $13.29. The company’s 50-day moving average price is $11.01 and its two-hundred day moving average price is $9.69.

Insider Activity at Benitec Biopharma

In related news, Director Suvretta Capital Management, L bought 42,000 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was bought at an average cost of $9.60 per share, for a total transaction of $403,200.00. Following the transaction, the director now owns 7,957,365 shares of the company’s stock, valued at $76,390,704. This represents a 0.53 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Benitec Biopharma

Hedge funds have recently modified their holdings of the company. Geode Capital Management LLC grew its holdings 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 valued at $772,000 after purchasing an additional 20,012 shares during the period. Suvretta Capital Management LLC boosted its position in shares of Benitec Biopharma by 422.0% during the third 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. Acuta Capital Partners LLC acquired a new position in shares of Benitec Biopharma in the 3rd quarter valued at $274,000. Simplify Asset Management Inc. increased its position in shares of Benitec Biopharma by 127.5% in the 3rd quarter. Simplify Asset Management Inc. now owns 116,535 shares of the biotechnology company’s stock valued at $1,071,000 after buying an additional 65,319 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in Benitec Biopharma by 20.3% during the 3rd quarter. GAMMA Investing LLC now owns 6,540 shares of the biotechnology company’s stock worth $60,000 after buying an additional 1,102 shares during the period. 52.19% of the stock is currently 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.