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

Benitec Biopharma Inc. (NASDAQ:BNTC) has been assigned a consensus recommendation of “Buy” from the six ratings firms that are currently covering the company, Marketbeat reports. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $22.60.

A number of equities analysts have recently commented on the company. JMP Securities boosted their price objective on Benitec Biopharma from $16.00 to $18.00 and gave the stock a “market outperform” rating in a research report on Monday, October 14th. Piper Sandler restated an “overweight” rating on shares of Benitec Biopharma in a report on Friday, October 18th. Leerink Partners assumed coverage on shares of Benitec Biopharma in a research note on Monday, July 22nd. They set an “outperform” rating and a $13.00 target price for the company. Leerink Partnrs upgraded Benitec Biopharma to a “strong-buy” rating in a research note on Monday, July 22nd. Finally, Guggenheim initiated coverage on Benitec Biopharma in a report on Thursday, September 12th. They set a “buy” rating and a $17.00 price target for the company.

Institutional Investors Weigh In On Benitec Biopharma

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its holdings in shares of Benitec Biopharma by 53.0% in the 2nd quarter. GAMMA Investing LLC now owns 5,438 shares of the biotechnology company’s stock valued at $38,000 after acquiring an additional 1,884 shares during the period. Simplify Asset Management Inc. purchased a new position in Benitec Biopharma during the 2nd quarter worth $358,000. Janus Henderson Group PLC increased its stake in Benitec Biopharma by 35.5% in the first quarter. Janus Henderson Group PLC now owns 244,491 shares of the biotechnology company’s stock valued at $1,266,000 after purchasing an additional 64,092 shares during the period. Finally, Nantahala Capital Management LLC purchased a new stake in shares of Benitec Biopharma in the second quarter valued at about $5,881,000. Hedge funds and other institutional investors own 52.19% of the company’s stock.

Benitec Biopharma Stock Performance

NASDAQ:BNTC opened at $10.58 on Friday. Benitec Biopharma has a 52 week low of $2.69 and a 52 week high of $12.89. The company has a fifty day simple moving average of $9.74 and a two-hundred day simple moving average of $8.93.

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.