Benitec Biopharma Inc. (NASDAQ:BNTC) Receives $24.43 Average PT from Brokerages

Benitec Biopharma Inc. (NASDAQ:BNTC) has earned an average rating of “Buy” from the nine ratings firms that are currently covering the stock, Marketbeat reports. Seven equities research analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $24.71.

BNTC has been the subject of a number of recent research reports. Robert W. Baird initiated coverage on shares of Benitec Biopharma in a research report on Friday, December 13th. They set an “outperform” rating and a $30.00 price objective for the company. HC Wainwright reiterated a “buy” rating and set a $28.00 price target on shares of Benitec Biopharma in a research report on Monday, March 24th. Finally, JMP Securities raised their price target on Benitec Biopharma from $18.00 to $20.00 and gave the stock a “market outperform” rating in a report on Thursday.

Benitec Biopharma Trading Up 5.8 %

Shares of NASDAQ BNTC opened at $12.63 on Wednesday. The company has a market capitalization of $296.19 million, a price-to-earnings ratio of -8.36 and a beta of 0.76. Benitec Biopharma has a twelve month low of $4.75 and a twelve month high of $16.90. The business has a 50 day simple moving average of $12.54 and a 200-day simple moving average of $11.42.

Benitec Biopharma (NASDAQ:BNTC) last released its earnings results on Friday, February 14th. The biotechnology company reported ($0.36) earnings per share for the quarter, beating the consensus estimate of ($0.55) by $0.19. As a group, equities analysts predict that Benitec Biopharma will post -1.48 earnings per share for the current year.

Insider Buying and Selling at Benitec Biopharma

In related news, Director Suvretta Capital Management, L bought 900,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 26th. The stock was purchased at an average price of $13.00 per share, for a total transaction of $11,700,000.00. Following the transaction, the director now directly owns 8,793,245 shares of the company’s stock, valued at approximately $114,312,185. This represents a 11.40 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.30% of the stock is owned by company insiders.

Institutional Trading of Benitec Biopharma

A number of institutional investors have recently made changes to their positions in the stock. Ameriprise Financial Inc. raised its holdings in Benitec Biopharma by 138.4% during the fourth quarter. Ameriprise Financial Inc. now owns 35,476 shares of the biotechnology company’s stock worth $448,000 after purchasing an additional 20,597 shares in the last quarter. 683 Capital Management LLC acquired a new position in shares of Benitec Biopharma during the 4th quarter valued at $452,000. Northern Trust Corp raised its stake in shares of Benitec Biopharma by 54.2% in the 4th quarter. Northern Trust Corp now owns 38,200 shares of the biotechnology company’s stock worth $482,000 after buying an additional 13,425 shares in the last quarter. MYDA Advisors LLC acquired a new stake in shares of Benitec Biopharma in the fourth quarter valued at $632,000. Finally, Geode Capital Management LLC boosted its stake 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 buying an additional 20,012 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.