Benitec Biopharma (NASDAQ:BNTC) Stock Price Expected to Rise, JMP Securities Analyst Says

Benitec Biopharma (NASDAQ:BNTC) had its price target lifted by JMP Securities from $18.00 to $20.00 in a report released on Thursday,Benzinga reports. JMP Securities currently has a market outperform rating on the biotechnology company’s stock.

Other equities analysts also recently issued reports about the company. HC Wainwright reaffirmed a “buy” rating and set a $28.00 price target on shares of Benitec Biopharma in a research report on Monday, March 24th. Robert W. Baird initiated coverage on Benitec Biopharma in a research note on Friday, December 13th. They set an “outperform” rating and a $30.00 target price on the stock. Finally, Baird R W upgraded Benitec Biopharma to a “strong-buy” rating in a research note on Thursday, December 12th. Seven investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $24.71.

Benitec Biopharma Stock Performance

Shares of Benitec Biopharma stock opened at $12.63 on Thursday. The company has a market capitalization of $296.19 million, a PE ratio of -8.36 and a beta of 0.76. The company has a 50-day simple moving average of $12.54 and a two-hundred day simple moving average of $11.42. Benitec Biopharma has a one year low of $4.75 and a one year high of $16.90.

Benitec Biopharma (NASDAQ:BNTC) last issued its quarterly earnings data 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. On average, equities analysts predict that Benitec Biopharma will post -1.48 earnings per share for the current fiscal year.

Insider Activity at Benitec Biopharma

In other 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, with a total value of $11,700,000.00. Following the completion of the acquisition, the director now directly owns 8,793,245 shares of the company’s stock, valued at $114,312,185. This trade represents a 11.40 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Benitec Biopharma

A number of institutional investors have recently bought and sold shares of the business. Ameriprise Financial Inc. boosted its holdings in shares of Benitec Biopharma by 138.4% in the 4th quarter. Ameriprise Financial Inc. now owns 35,476 shares of the biotechnology company’s stock valued at $448,000 after acquiring an additional 20,597 shares during the last quarter. 683 Capital Management LLC acquired a new position in Benitec Biopharma during the fourth quarter valued at $452,000. Northern Trust Corp boosted its holdings in Benitec Biopharma by 54.2% in the fourth quarter. Northern Trust Corp now owns 38,200 shares of the biotechnology company’s stock valued at $482,000 after purchasing an additional 13,425 shares during the last quarter. MYDA Advisors LLC acquired a new stake in Benitec Biopharma during the 4th quarter worth about $632,000. Finally, Lion Point Capital LP grew its position 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 purchasing an additional 23,000 shares during the period. 52.19% of the stock is owned by hedge funds and other institutional investors.

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.