Benitec Biopharma Inc. (NASDAQ:BNTC) Receives $24.43 Average Price Target from Analysts

Benitec Biopharma Inc. (NASDAQ:BNTC) has earned an average recommendation of “Buy” from the nine research firms that are currently covering the company, Marketbeat reports. Seven investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $24.43.

Several research firms have commented on BNTC. HC Wainwright reissued a “buy” rating and issued a $28.00 target price on shares of Benitec Biopharma in a report on Friday. Robert W. Baird began coverage on shares of Benitec Biopharma in a report on Friday, December 13th. They issued an “outperform” rating and a $30.00 target price on the stock. Guggenheim restated a “buy” rating and issued a $17.00 price target on shares of Benitec Biopharma in a research note on Tuesday, December 3rd. Finally, Baird R W upgraded shares of Benitec Biopharma to a “strong-buy” rating in a research note on Thursday, December 12th.

Benitec Biopharma Stock Down 2.3 %

NASDAQ:BNTC opened at $11.30 on Tuesday. Benitec Biopharma has a 52 week low of $3.28 and a 52 week high of $13.29. The firm’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 earnings results on Friday, February 14th. The biotechnology company reported ($0.36) EPS for the quarter, beating the consensus estimate of ($0.55) by $0.19. Research analysts expect that Benitec Biopharma will post -1.48 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Suvretta Capital Management, L purchased 27,502 shares of the stock in a transaction on Monday, December 23rd. The stock was purchased at an average price of $10.98 per share, for a total transaction of $301,971.96. Following 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Acuta Capital Partners LLC bought a new position in Benitec Biopharma during the 3rd quarter worth approximately $274,000. Ameriprise Financial Inc. raised its holdings in Benitec Biopharma by 138.4% during the 4th 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 last quarter. 683 Capital Management LLC bought a new position in Benitec Biopharma during the 4th quarter worth approximately $452,000. Northern Trust Corp increased its stake in shares of Benitec Biopharma by 54.2% in the 4th quarter. Northern Trust Corp now owns 38,200 shares of the biotechnology company’s stock valued at $482,000 after acquiring an additional 13,425 shares in the last quarter. Finally, MYDA Advisors LLC bought a new stake in shares of Benitec Biopharma in the 4th quarter valued at $632,000. Institutional investors own 52.19% of the company’s stock.

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.