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

Shares of Benitec Biopharma Inc. (NASDAQ:BNTC) have received an average recommendation of “Buy” from the nine ratings firms that are currently covering the company, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $24.43.

A number of research analysts recently issued reports on BNTC shares. HC Wainwright assumed coverage on Benitec Biopharma in a research note on Monday, December 16th. They set a “buy” rating and a $28.00 price target on the stock. Robert W. Baird assumed coverage on Benitec Biopharma in a research report on Friday, December 13th. They set an “outperform” rating and a $30.00 price objective for the company. Guggenheim reaffirmed a “buy” rating and set a $17.00 price objective on shares of Benitec Biopharma in a research report on Tuesday, December 3rd. Finally, Baird R W raised Benitec Biopharma to a “strong-buy” rating in a research report on Thursday, December 12th.

Benitec Biopharma Trading Up 16.0 %

BNTC opened at $11.25 on Tuesday. Benitec Biopharma has a one year low of $2.75 and a one year high of $13.29. The business’s 50-day simple moving average is $11.36 and its 200-day simple moving average is $10.27.

Benitec Biopharma (NASDAQ:BNTC) last released its quarterly earnings results on Friday, February 14th. The biotechnology company reported ($0.36) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.55) by $0.19. On average, analysts expect that Benitec Biopharma will post -3.58 earnings per share for the current year.

Insider Activity

In other news, Director Suvretta Capital Management, L acquired 27,502 shares of Benitec Biopharma stock in a transaction that occurred on Monday, December 23rd. The stock was purchased at an average cost of $10.98 per share, with a total value of $301,971.96. Following the completion of the acquisition, the director now owns 7,981,725 shares in the company, valued at $87,639,340.50. This trade represents a 0.35 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Benitec Biopharma

Several hedge funds and other institutional investors have recently bought and sold shares of BNTC. Suvretta Capital Management LLC increased its position in Benitec Biopharma by 422.0% during the third quarter. Suvretta Capital Management LLC now owns 8,829,053 shares of the biotechnology company’s stock worth $81,139,000 after buying an additional 7,137,763 shares in the last quarter. Franklin Resources Inc. increased its position in 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 buying an additional 2,142,643 shares in the last quarter. Janus Henderson Group PLC grew its position in shares of Benitec Biopharma by 198.5% in the fourth quarter. Janus Henderson Group PLC now owns 2,616,427 shares of the biotechnology company’s stock valued at $33,268,000 after purchasing an additional 1,739,904 shares during the period. Adage Capital Partners GP L.L.C. grew its position in shares of Benitec Biopharma by 134.4% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,972,524 shares of the biotechnology company’s stock valued at $24,913,000 after purchasing an additional 1,131,129 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Benitec Biopharma by 134.7% in the fourth quarter. Geode Capital Management LLC now owns 197,096 shares of the biotechnology company’s stock valued at $2,490,000 after purchasing an additional 113,109 shares during the period. 52.19% of the stock is 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.