Benitec Biopharma (NASDAQ:BNTC) Receives “Buy” Rating from HC Wainwright

HC Wainwright reiterated their buy rating on shares of Benitec Biopharma (NASDAQ:BNTC) in a research note published on Monday,Benzinga reports. They currently have a $28.00 price target on the biotechnology company’s stock.

Separately, JMP Securities restated a “market outperform” rating and issued a $20.00 target price on shares of Benitec Biopharma in a research note on Thursday, May 15th. Seven equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Benitec Biopharma presently has an average rating of “Buy” and a consensus target price of $24.71.

Benitec Biopharma Trading Up 2.8%

Shares of BNTC opened at $13.98 on Monday. The firm’s 50-day moving average is $13.66 and its two-hundred day moving average is $12.06. Benitec Biopharma has a twelve month low of $5.74 and a twelve month high of $16.90. The firm has a market capitalization of $357.89 million, a P/E ratio of -9.26 and a beta of 0.34.

Benitec Biopharma (NASDAQ:BNTC) last issued its quarterly earnings results on Wednesday, May 14th. The biotechnology company reported ($0.24) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.12. Analysts predict that Benitec Biopharma will post -1.48 EPS for the current year.

Insiders Place Their Bets

In related news, Director Suvretta Capital Management, L purchased 900,000 shares of the firm’s stock in a transaction dated Wednesday, March 26th. The shares were acquired at an average cost of $13.00 per share, with a total value of $11,700,000.00. Following the completion of the purchase, 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 ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Benitec Biopharma

Several hedge funds have recently bought and sold shares of the company. Suvretta Capital Management LLC raised 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 acquiring an additional 130,956 shares during the period. Franklin Resources Inc. raised 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 acquiring an additional 2,142,643 shares during the period. Janus Henderson Group PLC raised 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 acquiring an additional 1,739,904 shares during the period. Adage Capital Partners GP L.L.C. raised 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 acquiring an additional 1,131,129 shares during the period. Finally, Infinitum Asset Management LLC raised 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 acquiring an additional 915,000 shares during the period. 52.19% of the stock is currently owned by institutional investors and hedge funds.

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.