Benitec Biopharma (NASDAQ:BNTC – Get Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday, Zacks.com reports. The firm currently has a $1.00 price target on the biotechnology company’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 4.13% from the stock’s previous close.
According to Zacks, “Benitec Biopharma Limited is a biotechnology company which developed a patented gene silencing technology delivered by gene therapy called DNA directed RNA interference. The company is developing ddRNAi-based therapeutics for chronic and life-threatening human conditions including hepatitis C and B, drug resistant lung cancer and wet age-related macular degeneration. Benitec Biopharma Limited is based in Sydney, Australia. “
Separately, HC Wainwright assumed coverage on Benitec Biopharma in a research note on Thursday, February 17th. They issued a “buy” rating and a $10.00 price target on the stock.
Benitec Biopharma (NASDAQ:BNTC – Get Rating) last issued its quarterly earnings results on Monday, May 16th. The biotechnology company reported ($0.40) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.44) by $0.04. On average, equities analysts expect that Benitec Biopharma will post -1.89 earnings per share for the current fiscal year.
An institutional investor recently raised its position in Benitec Biopharma stock. Morgan Stanley grew its stake in shares of Benitec Biopharma Inc. (NASDAQ:BNTC – Get Rating) by 549.0% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 84,725 shares of the biotechnology company’s stock after acquiring an additional 71,671 shares during the period. Morgan Stanley owned about 1.76% of Benitec Biopharma worth $438,000 at the end of the most recent quarter. 21.00% of the stock is owned by hedge funds and other institutional investors.
Benitec Biopharma Company Profile (Get Rating)
Benitec Biopharma Inc, a development-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; and BB-103 for the treatment of chronic hepatitis B virus infection.
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