Benitec Biopharma (NASDAQ:BNTC) Earns Market Outperform Rating from JMP Securities

Benitec Biopharma (NASDAQ:BNTC)‘s stock had its “market outperform” rating restated by JMP Securities in a research report issued on Thursday,Benzinga reports. They currently have a $20.00 price objective on the biotechnology company’s stock. JMP Securities’ price target would suggest a potential upside of 47.06% from the company’s previous close.

Separately, HC Wainwright reiterated a “buy” rating and issued a $28.00 target price on shares of Benitec Biopharma in a research note on Monday, March 24th. Seven investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $24.71.

Benitec Biopharma Trading Up 0.7%

Shares of NASDAQ BNTC opened at $13.60 on Thursday. Benitec Biopharma has a 12 month low of $5.74 and a 12 month high of $16.90. The company has a 50 day simple moving average of $13.68 and a two-hundred day simple moving average of $12.02. The stock has a market cap of $318.93 million, a price-to-earnings ratio of -9.01 and a beta of 0.34.

Benitec Biopharma (NASDAQ:BNTC) last posted its earnings results on Wednesday, May 14th. The biotechnology company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.36) by $0.12. Analysts forecast that Benitec Biopharma will post -1.48 EPS for the current year.

Insider Buying and Selling

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

Institutional Investors Weigh In On Benitec Biopharma

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Suvretta Capital Management LLC grew its holdings in shares of Benitec Biopharma by 1.5% during the fourth quarter. Suvretta Capital Management LLC now owns 8,960,009 shares of the biotechnology company’s stock worth $113,165,000 after buying an additional 130,956 shares in the last quarter. Franklin Resources Inc. grew its holdings 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 worth $37,123,000 after buying an additional 2,142,643 shares in the last quarter. Janus Henderson Group PLC grew 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 worth $33,268,000 after buying an additional 1,739,904 shares in the last quarter. Adage Capital Partners GP L.L.C. grew its holdings in shares of Benitec Biopharma by 134.4% during the fourth 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 buying an additional 1,131,129 shares in the last quarter. Finally, Infinitum Asset Management LLC grew its holdings in shares of Benitec Biopharma by 435.7% during the first quarter. Infinitum Asset Management LLC now owns 1,125,000 shares of the biotechnology company’s stock worth $14,636,000 after buying an additional 915,000 shares in the last quarter. Hedge funds and other institutional investors own 52.19% of the company’s stock.

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.