Benitec Biopharma Limited (NASDAQ:BNTC) Receives $26.25 Average Target Price from Analysts

Shares of Benitec Biopharma Limited (NASDAQ:BNTC) have been given an average recommendation of “Moderate Buy” by the eight brokerages that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $26.25.

BNTC has been the subject of several recent research reports. Citizens Jmp raised their price objective on shares of Benitec Biopharma from $20.00 to $22.00 and gave the company a “market outperform” rating in a research note on Tuesday, November 4th. HC Wainwright set a $32.00 price target on shares of Benitec Biopharma and gave the company a “buy” rating in a research report on Monday, November 24th. Zacks Research raised Benitec Biopharma from a “strong sell” rating to a “hold” rating in a research report on Friday, November 14th. Citigroup reiterated an “outperform” rating on shares of Benitec Biopharma in a research note on Tuesday, November 4th. Finally, JMP Securities set a $22.00 target price on Benitec Biopharma in a research note on Tuesday, November 4th.

Insider Buying and Selling at Benitec Biopharma

In other news, Director Suvretta Capital Management, L bought 77,387 shares of the business’s stock in a transaction that occurred on Monday, December 29th. The shares were purchased at an average cost of $13.44 per share, for a total transaction of $1,040,081.28. Following the completion of the purchase, the director owned 9,700,195 shares of the company’s stock, valued at approximately $130,370,620.80. This represents a 0.80% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have purchased 190,364 shares of company stock worth $2,442,105 in the last 90 days. 4.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Benitec Biopharma

A number of large investors have recently modified their holdings of BNTC. BNP Paribas Financial Markets grew its holdings in shares of Benitec Biopharma by 44.5% during the third quarter. BNP Paribas Financial Markets now owns 2,937 shares of the biotechnology company’s stock worth $41,000 after purchasing an additional 904 shares during the last quarter. Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of Benitec Biopharma in the 2nd quarter valued at about $38,000. Russell Investments Group Ltd. acquired a new stake in shares of Benitec Biopharma in the 3rd quarter valued at about $79,000. Bank of America Corp DE grew 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 worth $80,000 after buying an additional 6,587 shares during the last quarter. Finally, JPMorgan Chase & Co. purchased a new position in Benitec Biopharma during the 2nd quarter worth approximately $80,000. 52.19% of the stock is owned by hedge funds and other institutional investors.

Benitec Biopharma Stock Down 6.1%

Shares of NASDAQ BNTC opened at $11.65 on Tuesday. The business’s 50 day moving average is $12.43 and its two-hundred day moving average is $13.15. Benitec Biopharma has a 52-week low of $9.70 and a 52-week high of $17.15. The firm has a market cap of $399.13 million, a price-to-earnings ratio of -9.63 and a beta of 0.26.

Benitec Biopharma (NASDAQ:BNTC) last released its quarterly earnings results on Friday, November 14th. The biotechnology company reported ($0.22) EPS for the quarter, topping the consensus estimate of ($0.35) by $0.13. Analysts anticipate that Benitec Biopharma will post -1.48 EPS for the current fiscal year.

About Benitec Biopharma

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.