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

Benitec Biopharma Limited (NASDAQ:BNTC) has earned an average recommendation of “Moderate Buy” from the eight brokerages that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and six have issued a buy recommendation on the company. The average 1 year target price among brokers that have covered the stock in the last year is $26.25.

A number of equities research analysts have weighed in on the stock. JMP Securities set a $22.00 target price on shares of Benitec Biopharma in a research note on Tuesday, November 4th. Oppenheimer reaffirmed an “outperform” rating and issued a $29.00 price objective (down previously from $35.00) on shares of Benitec Biopharma in a report on Tuesday, September 16th. Wall Street Zen raised Benitec Biopharma from a “sell” rating to a “hold” rating in a report on Saturday, November 22nd. Citigroup reaffirmed an “outperform” rating on shares of Benitec Biopharma in a research note on Tuesday, November 4th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Benitec Biopharma in a report on Wednesday, October 8th.

Benitec Biopharma Trading Up 1.1%

Benitec Biopharma stock opened at $11.50 on Monday. The firm has a market cap of $389.39 million, a price-to-earnings ratio of -9.50 and a beta of 0.20. Benitec Biopharma has a 12 month low of $9.70 and a 12 month high of $17.15. The stock has a fifty day simple moving average of $13.86 and a two-hundred day simple moving average of $13.51.

Benitec Biopharma (NASDAQ:BNTC) last issued its earnings results on Friday, November 14th. The biotechnology company reported ($0.22) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.13. On average, equities research analysts forecast that Benitec Biopharma will post -1.48 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Suvretta Capital Management, L acquired 1,481,481 shares of the company’s stock in a transaction on Friday, November 7th. The stock was acquired at an average price of $13.50 per share, with a total value of $19,999,993.50. Following the acquisition, the director directly owned 9,538,175 shares of the company’s stock, valued at approximately $128,765,362.50. This trade represents a 18.39% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. 4.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Benitec Biopharma

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ameriprise Financial Inc. grew its holdings in shares of Benitec Biopharma by 40.5% in the third quarter. Ameriprise Financial Inc. now owns 154,414 shares of the biotechnology company’s stock valued at $2,166,000 after purchasing an additional 44,489 shares in the last quarter. UBS Group AG increased its holdings in shares of Benitec Biopharma by 458.8% in the 3rd quarter. UBS Group AG now owns 99,941 shares of the biotechnology company’s stock worth $1,402,000 after buying an additional 82,057 shares during the last quarter. BNP Paribas Financial Markets raised its position in shares of Benitec Biopharma by 44.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,937 shares of the biotechnology company’s stock valued at $41,000 after buying an additional 904 shares in the last quarter. Russell Investments Group Ltd. bought a new stake in shares of Benitec Biopharma in the 3rd quarter valued at approximately $79,000. Finally, Vanguard Group Inc. boosted its holdings in shares of Benitec Biopharma by 2.4% in the 3rd quarter. Vanguard Group Inc. now owns 992,114 shares of the biotechnology company’s stock worth $13,919,000 after purchasing an additional 22,948 shares during the period. 52.19% of the stock is owned by institutional investors.

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.