Benitec Biopharma Limited (NASDAQ:BNTC) Stock Rated “Moderate Buy” by Sell-Side Brokerages

Benitec Biopharma Limited (NASDAQ:BNTC) has earned a consensus recommendation of “Moderate Buy” from the ten ratings firms that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $22.00.

A number of research firms recently commented on BNTC. Citigroup reaffirmed a “market outperform” rating on shares of Benitec Biopharma in a report on Tuesday, October 6th. Wedbush boosted their price objective on Benitec Biopharma from $16.00 to $17.00 and gave the company an “outperform” rating in a research note on Tuesday, September 15th. Royal Bank Of Canada upgraded shares of Benitec Biopharma to an “outperform” rating in a research report on Tuesday, September 15th. Raymond James Financial assumed coverage on shares of Benitec Biopharma in a research report on Friday, October 23rd. They issued an “outperform” rating and a $14.00 price target on the stock. Finally, HC Wainwright restated a “buy” rating on shares of Benitec Biopharma in a research note on Monday, November 2nd.

Benitec Biopharma Price Performance

BNTC opened at $9.47 on Thursday. The firm has a market capitalization of $330.41 million, a P/E ratio of -9.66 and a beta of 0.26. Benitec Biopharma has a fifty-two week low of $7.89 and a fifty-two week high of $14.39. The company’s 50-day moving average is $9.82 and its 200 day moving average is $11.42.

Benitec Biopharma (NASDAQ:BNTC) last issued its quarterly earnings results on Monday, September 14th. The biotechnology company reported ($0.26) EPS for the quarter, hitting analysts’ consensus estimates of ($0.26). On average, equities research analysts expect that Benitec Biopharma will post -1.35 earnings per share for the current year.

Hedge Funds Weigh In On Benitec Biopharma

A number of hedge funds and other institutional investors have recently modified their holdings of the company. GAMMA Investing LLC raised its holdings 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 valued at $107,000 after buying an additional 1,256 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Benitec Biopharma by 43.3% in the 1st quarter. Bank of America Corp DE now owns 17,376 shares of the biotechnology company’s stock worth $185,000 after acquiring an additional 5,251 shares during the last quarter. ADAR1 Capital Management LLC bought a new stake in shares of Benitec Biopharma in the 1st quarter worth approximately $186,000. Bank of New York Mellon Corp grew its holdings in shares of Benitec Biopharma by 37.6% during the 1st quarter. Bank of New York Mellon Corp now owns 43,489 shares of the biotechnology company’s stock valued at $463,000 after purchasing an additional 11,877 shares during the last quarter. Finally, AWM Investment Company Inc. bought a new position in shares of Benitec Biopharma during the 2nd quarter valued at $2,515,000. 52.19% of the stock is currently owned by hedge funds and other institutional investors.

About Benitec Biopharma

Benitec Biopharma is a clinical-stage biotechnology company developing genetic medicines for serious diseases. Its approach uses DNA-directed RNA interference (ddRNAi), a technique designed to reduce the production of disease-causing proteins by directing cells to silence specific genes. The company’s lead investigational candidate, BB-301, is being developed for oculopharyngeal muscular dystrophy (OPMD), a rare inherited disorder that can cause progressive muscle weakness and difficulty swallowing.