Benitec Biopharma Inc. (NASDAQ:BNTC) Receives Average Recommendation of “Buy” from Brokerages

Benitec Biopharma Inc. (NASDAQ:BNTC) has received an average recommendation of “Buy” from the nine analysts that are presently covering the stock, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $24.71.

Several brokerages recently weighed in on BNTC. HC Wainwright reaffirmed a “buy” rating and set a $28.00 target price on shares of Benitec Biopharma in a research note on Monday, March 24th. JMP Securities raised their price objective on shares of Benitec Biopharma from $18.00 to $20.00 and gave the company a “market outperform” rating in a research report on Thursday, April 10th.

Insider Buying and Selling

In other news, Director Suvretta Capital Management, L acquired 900,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 26th. The stock was purchased at an average price of $13.00 per share, with a total value of $11,700,000.00. Following the purchase, the director now owns 8,793,245 shares of the company’s stock, valued at approximately $114,312,185. This trade represents a 11.40 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.30% of the stock is currently owned by company insiders.

Institutional Trading of Benitec Biopharma

Hedge funds have recently modified their holdings of the business. GAMMA Investing LLC raised its position in Benitec Biopharma by 1,104.3% during the first quarter. GAMMA Investing LLC now owns 77,605 shares of the biotechnology company’s stock valued at $1,010,000 after buying an additional 71,161 shares during the period. Infinitum Asset Management LLC purchased a new position in Benitec Biopharma during the 4th quarter valued at about $2,652,000. Suvretta Capital Management LLC increased its holdings in shares of Benitec Biopharma by 1.5% in the 4th 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. Lion Point Capital LP lifted its position in shares of Benitec Biopharma by 59.0% in the fourth quarter. Lion Point Capital LP now owns 62,000 shares of the biotechnology company’s stock worth $783,000 after purchasing an additional 23,000 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in shares of Benitec Biopharma by 198.5% during the fourth quarter. Janus Henderson Group PLC now owns 2,616,427 shares of the biotechnology company’s stock worth $33,268,000 after purchasing an additional 1,739,904 shares during the period. Hedge funds and other institutional investors own 52.19% of the company’s stock.

Benitec Biopharma Trading Up 3.1 %

BNTC stock opened at $13.68 on Wednesday. The firm’s 50-day moving average is $12.61 and its two-hundred day moving average is $11.48. The company has a market capitalization of $320.81 million, a price-to-earnings ratio of -9.06 and a beta of 0.76. Benitec Biopharma has a 52 week low of $4.75 and a 52 week high of $16.90.

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

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.