Benitec Biopharma (NASDAQ:BNTC) Given New $16.00 Price Target at JMP Securities

Benitec Biopharma (NASDAQ:BNTC) had its price target upped by JMP Securities from $10.00 to $16.00 in a research note released on Monday, Benzinga reports. The brokerage currently has a market outperform rating on the biotechnology company’s stock.

Benitec Biopharma Trading Down 3.9 %

Shares of NASDAQ BNTC opened at $6.72 on Monday. Benitec Biopharma has a fifty-two week low of $1.86 and a fifty-two week high of $9.01. The company has a 50 day simple moving average of $4.91 and a two-hundred day simple moving average of $3.83. The company has a quick ratio of 3.62, a current ratio of 3.62 and a debt-to-equity ratio of 0.01.

Benitec Biopharma (NASDAQ:BNTC) last announced its earnings results on Tuesday, February 13th. The biotechnology company reported ($2.64) earnings per share for the quarter.

Hedge Funds Weigh In On Benitec Biopharma

An institutional investor recently bought a new position in Benitec Biopharma stock. Adage Capital Partners GP L.L.C. purchased a new stake in shares of Benitec Biopharma Inc. (NASDAQ:BNTC) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 189,188 shares of the biotechnology company’s stock, valued at approximately $572,000. Adage Capital Partners GP L.L.C. owned about 7.42% of Benitec Biopharma as of its most recent SEC filing. 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.