TD Cowen initiated coverage on shares of Benitec Biopharma (NASDAQ:BNTC – Free Report) in a research note released on Monday, Marketbeat reports. The brokerage issued a buy rating on the biotechnology company’s stock.
A number of other research analysts have also issued reports on the stock. HC Wainwright reissued a “buy” rating and set a $28.00 target price on shares of Benitec Biopharma in a research note on Monday, May 19th. JMP Securities reiterated a “market outperform” rating and issued a $20.00 target price on shares of Benitec Biopharma in a report on Thursday, May 15th. Eight research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $23.83.
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Benitec Biopharma Stock Performance
Benitec Biopharma (NASDAQ:BNTC – Get Free Report) last announced its quarterly earnings data on Wednesday, May 14th. The biotechnology company reported ($0.24) earnings per share for the quarter, topping the consensus estimate of ($0.36) by $0.12. As a group, equities research analysts anticipate that Benitec Biopharma will post -1.48 EPS for the current year.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. purchased a new position in Benitec Biopharma during the first quarter valued at approximately $597,000. Infinitum Asset Management LLC grew its position in Benitec Biopharma by 435.7% in the first quarter. Infinitum Asset Management LLC now owns 1,125,000 shares of the biotechnology company’s stock worth $14,636,000 after acquiring an additional 915,000 shares in the last quarter. AWM Investment Company Inc. grew its position in Benitec Biopharma by 35.2% in the first quarter. AWM Investment Company Inc. now owns 137,977 shares of the biotechnology company’s stock worth $1,795,000 after acquiring an additional 35,950 shares in the last quarter. MYDA Advisors LLC grew its position in Benitec Biopharma by 4.0% in the first quarter. MYDA Advisors LLC now owns 52,000 shares of the biotechnology company’s stock worth $677,000 after acquiring an additional 2,000 shares in the last quarter. Finally, Informed Momentum Co LLC bought a new stake in Benitec Biopharma in the first quarter worth approximately $512,000. 52.19% of the stock is owned by hedge funds and other institutional investors.
Benitec Biopharma Company Profile
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.
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