Benitec Biopharma (NASDAQ:BNTC) Issues Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Benitec Biopharma (NASDAQ:BNTC) issued its quarterly earnings results on Friday. The biotechnology company reported ($0.26) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.02, FiscalAI reports.

Benitec Biopharma Stock Down 0.6%

BNTC traded down $0.05 on Friday, reaching $9.04. The company had a trading volume of 144,689 shares, compared to its average volume of 196,941. Benitec Biopharma has a 1 year low of $7.89 and a 1 year high of $14.39. The stock has a market capitalization of $315.40 million, a PE ratio of -9.22 and a beta of 0.26. The stock has a 50-day moving average price of $9.67 and a 200-day moving average price of $11.39.

Analyst Ratings Changes

A number of brokerages have commented on BNTC. Wedbush increased their price objective on shares of Benitec Biopharma from $16.00 to $17.00 and gave the company an “outperform” rating in a research report on Tuesday, September 15th. Raymond James Financial initiated coverage on shares of Benitec Biopharma in a report on Friday, October 23rd. They issued an “outperform” rating and a $14.00 price objective on the stock. Citigroup reaffirmed a “market outperform” rating on shares of Benitec Biopharma in a research report on Tuesday, October 6th. Royal Bank Of Canada upgraded shares of Benitec Biopharma to an “outperform” rating in a research note on Tuesday, September 15th. Finally, HC Wainwright restated a “buy” rating on shares of Benitec Biopharma in a research note on Monday, November 2nd. Seven investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $22.00.

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.