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

Shares of Benitec Biopharma Inc. (NASDAQ:BNTC) have earned a consensus rating of “Buy” from the nine ratings firms that are currently covering the firm, Marketbeat reports. Seven analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $24.43.

A number of brokerages have recently issued reports on BNTC. Baird R W upgraded shares of Benitec Biopharma to a “strong-buy” rating in a research report on Thursday, December 12th. Guggenheim restated a “buy” rating and issued a $17.00 target price on shares of Benitec Biopharma in a report on Tuesday, December 3rd. HC Wainwright reiterated a “buy” rating and set a $28.00 price target on shares of Benitec Biopharma in a report on Friday, February 21st. Finally, Robert W. Baird started 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.

Insider Activity

In other news, Director Suvretta Capital Management, L acquired 27,502 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was purchased at an average price of $10.98 per share, for a total transaction of $301,971.96. Following the completion of the acquisition, the director now directly owns 7,981,725 shares in the company, valued at $87,639,340.50. The trade was a 0.35 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Benitec Biopharma

Large investors have recently modified their holdings of the company. Simplify Asset Management Inc. increased its stake in Benitec Biopharma by 127.5% during the 3rd quarter. Simplify Asset Management Inc. now owns 116,535 shares of the biotechnology company’s stock valued at $1,071,000 after purchasing an additional 65,319 shares in the last quarter. Acuta Capital Partners LLC acquired a new position in shares of Benitec Biopharma during the third quarter valued at about $274,000. Suvretta Capital Management LLC increased 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 acquiring an additional 7,137,763 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Benitec Biopharma by 31.3% in the 3rd quarter. Geode Capital Management LLC now owns 83,987 shares of the biotechnology company’s stock worth $772,000 after acquiring an additional 20,012 shares during the last quarter. Finally, Franklin Resources Inc. raised its holdings in shares of Benitec Biopharma by 269.0% in the 4th quarter. Franklin Resources Inc. now owns 2,939,287 shares of the biotechnology company’s stock worth $37,123,000 after acquiring an additional 2,142,643 shares during the last quarter. 52.19% of the stock is currently owned by institutional investors.

Benitec Biopharma Trading Up 1.1 %

Shares of BNTC opened at $14.97 on Friday. The stock’s 50-day moving average price is $11.38 and its two-hundred day moving average price is $10.67. Benitec Biopharma has a 12 month low of $4.75 and a 12 month high of $15.29. The company has a market capitalization of $351.06 million, a PE ratio of -9.91 and a beta of 0.92.

Benitec Biopharma (NASDAQ:BNTC) last posted its quarterly earnings data on Friday, February 14th. The biotechnology company reported ($0.36) EPS for the quarter, topping analysts’ consensus estimates of ($0.55) by $0.19. Equities research analysts predict 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.