JMP Securities Boosts Benitec Biopharma (NASDAQ:BNTC) Price Target to $20.00

Benitec Biopharma (NASDAQ:BNTC) had its target price boosted by research analysts at JMP Securities from $18.00 to $20.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “market outperform” rating on the biotechnology company’s stock. JMP Securities’ price objective indicates a potential upside of 58.35% from the company’s current price.

Several other analysts have also recently issued reports on BNTC. Baird R W raised Benitec Biopharma to a “strong-buy” rating in a research note on Thursday, December 12th. HC Wainwright reiterated a “buy” rating and issued a $28.00 price objective on shares of Benitec Biopharma in a report on Monday, March 24th. Finally, Robert W. Baird started 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. Seven research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $24.71.

Benitec Biopharma Stock Performance

NASDAQ:BNTC opened at $12.63 on Thursday. Benitec Biopharma has a fifty-two week low of $4.75 and a fifty-two week high of $16.90. The firm has a market cap of $296.19 million, a PE ratio of -8.36 and a beta of 0.76. The business has a 50 day moving average price of $12.54 and a 200-day moving average price of $11.42.

Benitec Biopharma (NASDAQ:BNTC) last announced its quarterly 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. Research analysts predict that Benitec Biopharma will post -1.48 EPS for the current year.

Insiders Place Their Bets

In other news, Director Suvretta Capital Management, L acquired 900,000 shares of the stock in a transaction on Wednesday, March 26th. The stock was acquired at an average price of $13.00 per share, with a total value of $11,700,000.00. Following the completion of the transaction, the director now owns 8,793,245 shares of the company’s stock, valued at $114,312,185. This represents a 11.40 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.30% of the company’s stock.

Institutional Trading of Benitec Biopharma

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Suvretta Capital Management LLC lifted its position 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 valued at $113,165,000 after acquiring an additional 130,956 shares during the period. Franklin Resources Inc. increased its stake in shares of Benitec Biopharma by 269.0% during the fourth quarter. Franklin Resources Inc. now owns 2,939,287 shares of the biotechnology company’s stock valued at $37,123,000 after purchasing an additional 2,142,643 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Benitec Biopharma by 198.5% during the fourth quarter. Janus Henderson Group PLC now owns 2,616,427 shares of the biotechnology company’s stock valued at $33,268,000 after purchasing an additional 1,739,904 shares during the last quarter. Adage Capital Partners GP L.L.C. boosted its position in shares of Benitec Biopharma by 134.4% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 1,972,524 shares of the biotechnology company’s stock worth $24,913,000 after purchasing an additional 1,131,129 shares in the last quarter. Finally, Infinitum Asset Management LLC purchased a new stake in shares of Benitec Biopharma in the 4th quarter worth approximately $2,652,000. 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.