JMP Securities Increases Benitec Biopharma (NASDAQ:BNTC) Price Target to $18.00

Benitec Biopharma (NASDAQ:BNTC) had its target price hoisted by equities research analysts at JMP Securities from $16.00 to $18.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has a “market outperform” rating on the biotechnology company’s stock. JMP Securities’ price target would suggest a potential upside of 83.49% from the stock’s current price.

Several other research analysts also recently commented on BNTC. Leerink Partnrs raised shares of Benitec Biopharma to a “strong-buy” rating in a research note on Monday, July 22nd. Guggenheim initiated coverage on shares of Benitec Biopharma in a research note on Thursday, September 12th. They issued a “buy” rating and a $17.00 target price on the stock. Finally, Leerink Partners initiated coverage on shares of Benitec Biopharma in a research note on Monday, July 22nd. They issued an “outperform” rating and a $13.00 target price on the stock. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $19.50.

Benitec Biopharma Stock Performance

Shares of BNTC opened at $9.81 on Monday. The firm has a market cap of $91.90 million, a price-to-earnings ratio of -5.14 and a beta of 0.90. Benitec Biopharma has a fifty-two week low of $2.69 and a fifty-two week high of $12.89. The firm has a 50 day moving average price of $9.11 and a 200-day moving average price of $8.32.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Nantahala Capital Management LLC purchased a new position in Benitec Biopharma during the 2nd quarter valued at $5,881,000. Janus Henderson Group PLC increased its position in Benitec Biopharma by 35.5% during the 1st 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. GAMMA Investing LLC increased its position in Benitec Biopharma by 53.0% during the 2nd quarter. GAMMA Investing LLC now owns 5,438 shares of the biotechnology company’s stock valued at $38,000 after purchasing an additional 1,884 shares during the period. Finally, Simplify Asset Management Inc. purchased a new position in Benitec Biopharma during the 2nd quarter valued at $358,000. 52.19% of the stock is owned by hedge funds and other 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.