Benitec Biopharma Limited (NASDAQ:BNTC) Receives $27.00 Average Target Price from Brokerages

Shares of Benitec Biopharma Limited (NASDAQ:BNTC) have received an average recommendation of “Moderate Buy” from the ten analysts that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $24.80.

BNTC has been the subject of a number of research analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Benitec Biopharma in a research note on Friday, July 17th. Wedbush assumed coverage on Benitec Biopharma in a research note on Tuesday. They issued an “outperform” rating and a $16.00 price target on the stock. Guggenheim cut Benitec Biopharma from a “buy” rating to a “neutral” rating in a research note on Wednesday, June 10th. Wall Street Zen downgraded Benitec Biopharma from a “hold” rating to a “sell” rating in a report on Saturday, June 13th. Finally, Evercore started coverage on Benitec Biopharma in a research report on Tuesday, May 12th. They set an “outperform” rating and a $25.00 price objective for the company.

Benitec Biopharma Price Performance

Shares of NASDAQ BNTC opened at $11.86 on Tuesday. Benitec Biopharma has a 1 year low of $9.85 and a 1 year high of $16.76. The company’s 50-day moving average is $12.02 and its 200 day moving average is $11.81. The stock has a market capitalization of $407.39 million, a P/E ratio of -10.40 and a beta of 0.25.

Benitec Biopharma (NASDAQ:BNTC) last released its quarterly earnings results on Thursday, May 14th. The biotechnology company reported ($0.24) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.03. Research analysts anticipate that Benitec Biopharma will post -1.02 earnings per share for the current year.

Hedge Funds Weigh In On Benitec Biopharma

A number of hedge funds have recently bought and sold shares of BNTC. MYDA Advisors LLC lifted its position in Benitec Biopharma by 221.4% during the fourth quarter. MYDA Advisors LLC now owns 225,000 shares of the biotechnology company’s stock valued at $3,031,000 after purchasing an additional 155,000 shares during the period. Simplify Asset Management Inc. boosted its holdings in Benitec Biopharma by 271.9% in the first quarter. Simplify Asset Management Inc. now owns 562,242 shares of the biotechnology company’s stock worth $5,988,000 after purchasing an additional 411,079 shares during the last quarter. Empery Asset Management LP bought a new stake in Benitec Biopharma in the 4th quarter worth approximately $747,000. SG Americas Securities LLC bought a new stake in Benitec Biopharma in the 4th quarter worth approximately $111,000. Finally, Bank of America Corp DE raised its stake in Benitec Biopharma by 2,255.8% during the 2nd quarter. Bank of America Corp DE now owns 6,879 shares of the biotechnology company’s stock valued at $80,000 after buying an additional 6,587 shares during the last quarter. Institutional investors own 52.19% of the company’s stock.

Benitec Biopharma Company Profile

Benitec Biopharma Ltd (NASDAQ: BNTC) is a clinical-stage biotechnology company developing gene-silencing therapies for serious human diseases. The company’s proprietary DNA-directed RNA interference (ddRNAi) platform is designed to enable sustained expression of small RNA molecules that specifically target and silence disease-causing genes. By integrating RNAi sequences directly into DNA constructs, ddRNAi aims to provide a long-term therapeutic effect from a single administration.

Benitec’s lead programs include development of ddRNAi candidates for chronic hepatitis B virus infection and for certain ocular conditions.