Analysts Set Benitec Biopharma Inc. (NASDAQ:BNTC) Target Price at $24.71

Shares of Benitec Biopharma Inc. (NASDAQ:BNTC) have been given an average recommendation of “Buy” by the nine ratings firms that are presently covering the company, Marketbeat.com reports. Seven research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $24.71.

A number of analysts have commented on the company. HC Wainwright reissued a “buy” rating and set a $28.00 price objective on shares of Benitec Biopharma in a report on Monday, March 24th. JMP Securities upped their price target on Benitec Biopharma from $18.00 to $20.00 and gave the stock a “market outperform” rating in a report on Thursday, April 10th.

Benitec Biopharma Stock Performance

BNTC stock opened at $13.74 on Friday. The stock’s 50 day simple moving average is $13.57 and its 200 day simple moving average is $11.91. The company has a market cap of $322.22 million, a P/E ratio of -9.10 and a beta of 0.34. Benitec Biopharma has a fifty-two week low of $5.74 and a fifty-two week high of $16.90.

Benitec Biopharma (NASDAQ:BNTC) last released its quarterly earnings data on Friday, February 14th. The biotechnology company reported ($0.36) earnings per share for the quarter, topping the consensus estimate of ($0.55) by $0.19. Equities analysts predict that Benitec Biopharma will post -1.48 earnings per share for the current year.

Insider Buying and Selling at Benitec Biopharma

In other news, Director Suvretta Capital Management, L bought 900,000 shares of the firm’s stock in a transaction on Wednesday, March 26th. The stock was acquired at an average cost of $13.00 per share, with a total value of $11,700,000.00. Following the completion of the transaction, the director now directly owns 8,793,245 shares of the company’s stock, valued at $114,312,185. This represents a 11.40 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Benitec Biopharma

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BNTC. Suvretta Capital Management LLC raised its position in shares of Benitec Biopharma by 1.5% in the fourth quarter. Suvretta Capital Management LLC now owns 8,960,009 shares of the biotechnology company’s stock valued at $113,165,000 after purchasing an additional 130,956 shares during the period. Franklin Resources Inc. lifted its position in shares of 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 acquiring an additional 2,142,643 shares in the last quarter. Janus Henderson Group PLC boosted its holdings 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 worth $33,268,000 after acquiring 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 in the last quarter. Finally, Infinitum Asset Management LLC bought a new stake in shares of Benitec Biopharma during the 4th quarter valued at $2,652,000. 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.