Brokerages Set Benitec Biopharma Inc. (NASDAQ:BNTC) Price Target at $24.43

Benitec Biopharma Inc. (NASDAQ:BNTC) has been assigned an average recommendation of “Buy” from the nine research firms that are currently covering the stock, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $24.43.

BNTC has been the subject of several recent analyst reports. Guggenheim restated a “buy” rating and set a $17.00 price objective on shares of Benitec Biopharma in a research report on Tuesday, December 3rd. HC Wainwright restated a “buy” rating and set a $28.00 price target on shares of Benitec Biopharma in a report on Friday, February 21st. Baird R W upgraded Benitec Biopharma to a “strong-buy” rating in a report on Thursday, December 12th. Finally, Robert W. Baird initiated coverage on Benitec Biopharma in a research report on Friday, December 13th. They issued an “outperform” rating and a $30.00 price objective for the company.

Benitec Biopharma Stock Performance

NASDAQ:BNTC opened at $15.34 on Friday. Benitec Biopharma has a one year low of $4.75 and a one year high of $15.97. The stock has a market cap of $359.74 million, a PE ratio of -10.16 and a beta of 0.92. The stock has a 50 day moving average price of $11.51 and a 200 day moving average price of $10.77.

Benitec Biopharma (NASDAQ:BNTC) last issued its earnings results on Friday, February 14th. The biotechnology company reported ($0.36) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 bought 27,502 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were purchased at an average price of $10.98 per share, with a total value of $301,971.96. Following the purchase, the director now owns 7,981,725 shares in the company, valued at approximately $87,639,340.50. The trade was a 0.35 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Benitec Biopharma

Institutional investors have recently bought and sold shares of the company. Infinitum Asset Management LLC acquired a new stake in shares of Benitec Biopharma during the fourth quarter worth about $2,652,000. Suvretta Capital Management LLC increased its stake in Benitec Biopharma by 1.5% during the 4th quarter. Suvretta Capital Management LLC now owns 8,960,009 shares of the biotechnology company’s stock worth $113,165,000 after buying an additional 130,956 shares during the period. Lion Point Capital LP lifted its holdings in Benitec Biopharma by 59.0% during the 4th quarter. Lion Point Capital LP now owns 62,000 shares of the biotechnology company’s stock worth $783,000 after buying an additional 23,000 shares in the last quarter. Janus Henderson Group PLC boosted its position in Benitec Biopharma by 198.5% in the 4th quarter. Janus Henderson Group PLC now owns 2,616,427 shares of the biotechnology company’s stock valued at $33,268,000 after buying an additional 1,739,904 shares during the period. Finally, Ameriprise Financial Inc. grew 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 worth $448,000 after acquiring an additional 20,597 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.