Benitec Biopharma Inc. (NASDAQ:BNTC) Receives Consensus Recommendation of “Buy” from Analysts

Benitec Biopharma Inc. (NASDAQ:BNTC) has been assigned a consensus rating of “Buy” from the nine analysts that are currently covering the company, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $24.71.

BNTC has been the subject of several analyst reports. HC Wainwright reiterated a “buy” rating and issued a $28.00 price objective on shares of Benitec Biopharma in a research report on Monday, March 24th. JMP Securities increased 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, April 10th.

Insider Activity at Benitec Biopharma

In other Benitec Biopharma news, Director Suvretta Capital Management, L purchased 900,000 shares of the company’s stock in a transaction on Wednesday, March 26th. The stock was acquired at an average price of $13.00 per share, for a total transaction of $11,700,000.00. Following the completion of the purchase, the director now directly owns 8,793,245 shares in the company, valued at approximately $114,312,185. The trade was a 11.40 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Ameriprise Financial Inc. raised its position in 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 purchasing an additional 20,597 shares in the last quarter. 683 Capital Management LLC purchased a new stake in shares of Benitec Biopharma during the fourth quarter worth approximately $452,000. Northern Trust Corp raised 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 acquiring an additional 13,425 shares in the last quarter. MYDA Advisors LLC purchased a new position in Benitec Biopharma in the fourth quarter worth approximately $632,000. Finally, Geode Capital Management LLC grew its holdings in Benitec Biopharma by 31.3% during 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 in the last quarter. 52.19% of the stock is currently owned by hedge funds and other institutional investors.

Benitec Biopharma Stock Up 4.4 %

NASDAQ BNTC opened at $15.05 on Friday. The business’s fifty day simple moving average is $13.41 and its 200-day simple moving average is $11.84. The firm has a market cap of $352.94 million, a PE ratio of -9.97 and a beta of 0.34. Benitec Biopharma has a 52 week low of $5.74 and a 52 week high of $16.90.

Benitec Biopharma (NASDAQ:BNTC) last posted 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. Research analysts expect that Benitec Biopharma will post -1.48 EPS for the current year.

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.