HC Wainwright Reiterates “Buy” Rating for Benitec Biopharma (NASDAQ:BNTC)

Benitec Biopharma (NASDAQ:BNTC)‘s stock had its “buy” rating reaffirmed by equities research analysts at HC Wainwright in a research note issued on Friday,Benzinga reports. They presently have a $28.00 price target on the biotechnology company’s stock. HC Wainwright’s price target would indicate a potential upside of 147.79% from the company’s previous close.

BNTC has been the subject of a number of other research reports. Baird R W raised Benitec Biopharma to a “strong-buy” rating in a research report on Thursday, December 12th. Guggenheim reissued a “buy” rating and set a $17.00 price objective on shares of Benitec Biopharma in a research report on Tuesday, December 3rd. Finally, Robert W. Baird assumed coverage on Benitec Biopharma in a research report on Friday, December 13th. They issued an “outperform” rating and a $30.00 price target for the company. Seven equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $24.43.

Benitec Biopharma Price Performance

Shares of NASDAQ BNTC opened at $11.30 on Friday. Benitec Biopharma has a 12-month low of $3.28 and a 12-month high of $13.29. The stock’s 50 day simple moving average is $11.29 and its 200 day simple moving average is $10.34.

Benitec Biopharma (NASDAQ:BNTC) last released its quarterly earnings data on Friday, February 14th. The biotechnology company reported ($0.36) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.19. Sell-side analysts expect that Benitec Biopharma will post -1.48 earnings per share for the current year.

Insiders Place Their Bets

In other Benitec Biopharma news, Director Suvretta Capital Management, L acquired 27,502 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were acquired at an average cost of $10.98 per share, for a total transaction of $301,971.96. Following the completion of the purchase, the director now owns 7,981,725 shares of the company’s stock, valued at approximately $87,639,340.50. This trade represents a 0.35 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Benitec Biopharma

A number of institutional investors have recently made changes to their positions in BNTC. Acuta Capital Partners LLC bought a new position in shares of Benitec Biopharma in the third quarter worth about $274,000. Ameriprise Financial Inc. increased its stake in shares of Benitec Biopharma by 138.4% in the fourth quarter. Ameriprise Financial Inc. now owns 35,476 shares of the biotechnology company’s stock worth $448,000 after purchasing an additional 20,597 shares during the period. 683 Capital Management LLC bought a new position in shares of Benitec Biopharma in the fourth quarter worth about $452,000. Northern Trust Corp increased its stake in shares of Benitec Biopharma by 54.2% in the fourth quarter. Northern Trust Corp now owns 38,200 shares of the biotechnology company’s stock worth $482,000 after purchasing an additional 13,425 shares during the period. Finally, MYDA Advisors LLC bought a new position in Benitec Biopharma during the fourth quarter valued at about $632,000. 52.19% of the stock is currently owned by institutional investors.

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.