Benitec Biopharma (NASDAQ:BNTC) Issues Quarterly Earnings Results, Beats Estimates By $0.19 EPS

Benitec Biopharma (NASDAQ:BNTC) issued its earnings results on Friday. The biotechnology company reported ($0.36) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.19, Zacks reports.

Benitec Biopharma Stock Up 12.3 %

Benitec Biopharma stock traded up $1.20 during mid-day trading on Friday, reaching $10.90. 29,958 shares of the stock traded hands, compared to its average volume of 31,536. The business’s 50-day moving average is $11.38 and its 200-day moving average is $10.21. Benitec Biopharma has a 12-month low of $2.75 and a 12-month high of $13.29.

Analyst Ratings Changes

Several analysts recently weighed in on BNTC shares. HC Wainwright initiated coverage on shares of Benitec Biopharma in a research note on Monday, December 16th. They issued a “buy” rating and a $28.00 price objective on the stock. Robert W. Baird initiated coverage on Benitec Biopharma in a research report on Friday, December 13th. They issued an “outperform” rating and a $30.00 price target on the stock. Guggenheim restated a “buy” rating and set a $17.00 price objective on shares of Benitec Biopharma in a research report on Tuesday, December 3rd. Baird R W upgraded Benitec Biopharma to a “strong-buy” rating in a report on Thursday, December 12th. Finally, Piper Sandler reissued an “overweight” rating on shares of Benitec Biopharma in a research report on Friday, October 18th. Seven equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Benitec Biopharma has a consensus rating of “Buy” and a consensus price target of $24.43.

Insider Buying and Selling at Benitec Biopharma

In other news, Director Suvretta Capital Management, L purchased 27,502 shares of the business’s stock in a transaction on Monday, December 23rd. The stock was acquired at an average price of $10.98 per share, for a total transaction of $301,971.96. Following the acquisition, the director now directly owns 7,981,725 shares of the company’s stock, valued at $87,639,340.50. This represents a 0.35 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.30% of the stock is currently owned by corporate insiders.

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.