Benitec Biopharma Limited (NASDAQ:BNTC) Stock Has Consensus Target Price of $24.00

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

BNTC has been the subject of several research analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Benitec Biopharma in a report on Friday, July 17th. Wedbush upped their price target 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. HC Wainwright reissued a “buy” rating on shares of Benitec Biopharma in a report on Monday, September 28th. Wall Street Zen downgraded shares of Benitec Biopharma from a “hold” rating to a “sell” rating in a research report on Saturday, September 19th. Finally, Citigroup restated a “market outperform” rating on shares of Benitec Biopharma in a research report on Tuesday, October 6th.

Benitec Biopharma Price Performance

BNTC stock opened at $8.63 on Friday. The company has a fifty day moving average price of $11.54 and a two-hundred day moving average price of $11.81. Benitec Biopharma has a one year low of $8.51 and a one year high of $16.76. The stock has a market cap of $301.01 million, a price-to-earnings ratio of -8.81 and a beta of 0.25.

Benitec Biopharma (NASDAQ:BNTC) last released its quarterly earnings data on Monday, September 14th. The biotechnology company reported ($0.26) EPS for the quarter, meeting the consensus estimate of ($0.26). Research analysts anticipate that Benitec Biopharma will post -1.31 EPS for the current fiscal year.

Hedge Funds Weigh In On Benitec Biopharma

Institutional investors and hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC grew its position in shares of Benitec Biopharma by 18.7% during the 2nd quarter. GAMMA Investing LLC now owns 7,961 shares of the biotechnology company’s stock worth $107,000 after purchasing an additional 1,256 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of Benitec Biopharma by 43.3% during the first quarter. Bank of America Corp DE now owns 17,376 shares of the biotechnology company’s stock worth $185,000 after purchasing an additional 5,251 shares during the period. Bank of New York Mellon Corp raised its position in shares of Benitec Biopharma by 37.6% in the first quarter. Bank of New York Mellon Corp now owns 43,489 shares of the biotechnology company’s stock valued at $463,000 after buying an additional 11,877 shares in the last quarter. ADAR1 Capital Management LLC bought a new stake in shares of Benitec Biopharma in the first quarter valued at approximately $186,000. Finally, MYDA Advisors LLC boosted its stake in shares of Benitec Biopharma by 221.4% in the fourth quarter. MYDA Advisors LLC now owns 225,000 shares of the biotechnology company’s stock valued at $3,031,000 after buying an additional 155,000 shares during the period. Institutional investors and hedge funds own 52.19% of the company’s stock.

About Benitec Biopharma

Benitec Biopharma Limited (NASDAQ:BNTC) is a clinical-stage biotechnology company developing genetic medicines for chronic and potentially life-threatening diseases. The company’s work is based on DNA-directed RNA interference (ddRNAi), a gene-silencing technology designed to produce sustained suppression of disease-causing genes within targeted cells.

Benitec’s lead investigational product is BB-301, an adeno-associated virus gene therapy being developed for oculopharyngeal muscular dystrophy (OPMD), a rare inherited disorder that can cause progressive difficulty swallowing and weakness of the eyelid and throat muscles.