Benitec Biopharma Limited (NASDAQ:BNTC) Receives $24.00 Consensus Target Price from Analysts

Benitec Biopharma Limited (NASDAQ:BNTC) has earned an average rating of “Moderate Buy” from the ten analysts that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $24.00.

Several research firms recently weighed in on BNTC. Wall Street Zen cut shares of Benitec Biopharma from a “hold” rating to a “sell” rating in a research report on Saturday. Royal Bank Of Canada upgraded shares of Benitec Biopharma to an “outperform” rating in a research report on Tuesday, September 15th. Wedbush raised their price objective on shares of Benitec Biopharma from $16.00 to $17.00 and gave the company an “outperform” rating in a research note on Tuesday, September 15th. Guggenheim lowered Benitec Biopharma from a “buy” rating to a “neutral” rating in a research report on Wednesday, June 10th. Finally, Citigroup reissued a “market outperform” rating on shares of Benitec Biopharma in a research note on Tuesday, September 15th.

Institutional Trading of Benitec Biopharma

A number of large investors have recently made changes to their positions in BNTC. Simplify Asset Management Inc. raised its stake in Benitec Biopharma by 271.9% during the 1st quarter. Simplify Asset Management Inc. now owns 562,242 shares of the biotechnology company’s stock worth $5,988,000 after buying an additional 411,079 shares during the period. MYDA Advisors LLC increased its stake in Benitec Biopharma by 221.4% during the 4th quarter. MYDA Advisors LLC now owns 225,000 shares of the biotechnology company’s stock worth $3,031,000 after purchasing an additional 155,000 shares in the last quarter. AWM Investment Company Inc. acquired a new stake in Benitec Biopharma during the 2nd quarter worth approximately $2,515,000. Bank of New York Mellon Corp bought a new position in Benitec Biopharma in the second quarter valued at approximately $804,000. Finally, Empery Asset Management LP bought a new stake in Benitec Biopharma in the 4th quarter valued at $747,000. Institutional investors own 52.19% of the company’s stock.

Benitec Biopharma Stock Performance

Benitec Biopharma stock opened at $11.02 on Wednesday. The business’s fifty day moving average is $12.43 and its two-hundred day moving average is $12.04. The firm has a market cap of $384.38 million, a P/E ratio of -11.24 and a beta of 0.27. Benitec Biopharma has a 52 week low of $9.85 and a 52 week high of $16.76.

Benitec Biopharma (NASDAQ:BNTC) last announced its earnings results on Monday, September 14th. The biotechnology company reported ($0.26) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.26). On average, equities research analysts predict that Benitec Biopharma will post -1.29 earnings per share for the current year.

Benitec Biopharma Company Profile

Benitec Biopharma Inc (NASDAQ:BNTC) is a clinical-stage biotechnology company developing genetic medicines based on DNA-directed RNA interference (ddRNAi). The company’s technology is designed to enable long-lasting suppression of disease-causing genes by delivering genetic instructions that produce RNA interference molecules within targeted cells.

Benitec’s lead product candidate is BB-301, an investigational gene therapy being developed for oculopharyngeal muscular dystrophy type 1 (OPMD), a rare inherited disorder that can cause progressive weakness of the muscles involved in swallowing and eye movement.