Benitec Biopharma Limited (NASDAQ:BNTC) Given Average Recommendation of “Moderate Buy” by Brokerages

Benitec Biopharma Limited (NASDAQ:BNTC) has earned an average rating of “Moderate Buy” from the eight analysts that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $26.25.

BNTC has been the topic of several recent analyst reports. Citizens Jmp increased their price target on Benitec Biopharma from $20.00 to $22.00 and gave the stock a “market outperform” rating in a report on Tuesday, November 4th. Oppenheimer restated an “outperform” rating and set a $29.00 target price (down previously from $35.00) on shares of Benitec Biopharma in a report on Tuesday, September 16th. Wall Street Zen upgraded Benitec Biopharma from a “sell” rating to a “hold” rating in a research note on Saturday, November 22nd. HC Wainwright set a $32.00 price target on shares of Benitec Biopharma and gave the company a “buy” rating in a research report on Monday, November 24th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Benitec Biopharma in a research report on Wednesday, October 8th.

Insider Buying and Selling at Benitec Biopharma

In related news, Director Suvretta Capital Management, L acquired 1,481,481 shares of the business’s stock in a transaction dated Friday, November 7th. The shares were purchased at an average price of $13.50 per share, for a total transaction of $19,999,993.50. Following the completion of the acquisition, the director directly owned 9,538,175 shares in the company, valued at $128,765,362.50. The trade was a 18.39% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 4.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Ameriprise Financial Inc. raised its position in Benitec Biopharma by 40.5% during the 3rd quarter. Ameriprise Financial Inc. now owns 154,414 shares of the biotechnology company’s stock worth $2,166,000 after buying an additional 44,489 shares during the last quarter. UBS Group AG raised its position in shares of Benitec Biopharma by 458.8% during the 3rd quarter. UBS Group AG now owns 99,941 shares of the biotechnology company’s stock worth $1,402,000 after purchasing an additional 82,057 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in Benitec Biopharma by 44.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,937 shares of the biotechnology company’s stock valued at $41,000 after buying an additional 904 shares in the last quarter. Russell Investments Group Ltd. acquired a new stake in Benitec Biopharma in the 3rd quarter worth about $79,000. Finally, Vanguard Group Inc. increased its stake in Benitec Biopharma by 2.4% during the 3rd quarter. Vanguard Group Inc. now owns 992,114 shares of the biotechnology company’s stock worth $13,919,000 after buying an additional 22,948 shares in the last quarter. 52.19% of the stock is owned by institutional investors and hedge funds.

Benitec Biopharma Price Performance

Shares of BNTC opened at $11.98 on Monday. Benitec Biopharma has a 1 year low of $9.70 and a 1 year high of $17.15. The business’s 50 day simple moving average is $14.11 and its 200-day simple moving average is $13.62. The stock has a market capitalization of $405.64 million, a price-to-earnings ratio of -9.90 and a beta of 0.20.

Benitec Biopharma (NASDAQ:BNTC) last posted its earnings results on Friday, November 14th. The biotechnology company reported ($0.22) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.13. On average, sell-side analysts expect that Benitec Biopharma will post -1.48 earnings per share for the current year.

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.