Benitec Biopharma (NASDAQ:BNTC) Now Covered by Raymond James Financial

Key Points

• Raymond James initiated coverage of Benitec Biopharma with an “outperform” rating and a $14 price target, implying 58.73% upside from the reported $8.82 share price.
• Analyst sentiment is broadly positive but mixed: eight analysts rate BNTC a Buy, two a Hold and one a Sell, resulting in a “Moderate Buy” consensus and a higher average target price of $22.
• Benitec reported quarterly EPS of -$0.26, in line with estimates, while institutional investors own 52.19% of the stock; the company is developing genetic medicines, led by BB-301 for OPMD1.

Research analysts at Raymond James Financial began coverage on shares of Benitec Biopharma (NASDAQ:BNTC - Get Free Report) in a research report issued on Friday, Marketbeat reports. The brokerage set an "outperform" rating and a $14.00 price target on the biotechnology company's stock. Raymond James Financial's target price suggests a potential upside of 58.73% from the company's current price.

Several other research analysts have also recently weighed in on BNTC. Citigroup reaffirmed a "market outperform" rating on shares of Benitec Biopharma in a research report on Tuesday, October 6th. Weiss Ratings reissued a "sell (d-)" rating on shares of Benitec Biopharma in a research report on Thursday, October 15th. HC Wainwright reissued a "buy" rating on shares of Benitec Biopharma in a research report on Monday, September 28th. Royal Bank Of Canada upgraded Benitec Biopharma to an "outperform" rating in a research note on Tuesday, September 15th. Finally, Wedbush upped their price target on Benitec Biopharma from $16.00 to $17.00 and gave the stock an "outperform" rating in a research report on Tuesday, September 15th. Eight research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Benitec Biopharma has a consensus rating of "Moderate Buy" and a consensus target price of $22.00.

Benitec Biopharma Trading Up 3.8%

BNTC opened at $8.82 on Friday. The stock has a market capitalization of $307.73 million, a P/E ratio of -9.00 and a beta of 0.25. Benitec Biopharma has a 12 month low of $8.00 and a 12 month high of $16.76. The firm's fifty day simple moving average is $10.90 and its 200 day simple moving average is $11.70.

Benitec Biopharma (NASDAQ:BNTC - Get Free Report) last announced its earnings results on Monday, September 14th. The biotechnology company reported ($0.26) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.26). On average, equities research analysts predict that Benitec Biopharma will post -1.31 EPS for the current fiscal year.

Institutional Trading of Benitec Biopharma

Hedge funds and other institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC boosted its position in Benitec Biopharma by 18.7% during the second quarter. GAMMA Investing LLC now owns 7,961 shares of the biotechnology company's stock valued at $107,000 after purchasing an additional 1,256 shares during the last quarter. Bank of America Corp DE increased its position in shares of Benitec Biopharma by 43.3% during the 1st quarter. Bank of America Corp DE now owns 17,376 shares of the biotechnology company's stock worth $185,000 after purchasing an additional 5,251 shares during the last quarter. ADAR1 Capital Management LLC acquired a new position in shares of Benitec Biopharma during the 1st quarter worth approximately $186,000. Bank of New York Mellon Corp raised its stake 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 worth $463,000 after purchasing an additional 11,877 shares in the last quarter. Finally, AWM Investment Company Inc. bought a new stake in shares of Benitec Biopharma during the 2nd quarter worth approximately $2,515,000. Institutional investors and hedge funds own 52.19% of the company's stock.

Benitec Biopharma Company Profile

Benitec Biopharma Inc NASDAQ: BNTC is a clinical-stage biotechnology company developing genetic medicines based on its proprietary DNA-directed RNA interference (ddRNAi) technology. The platform is designed to enable cells to produce small hairpin RNA molecules that can selectively reduce the expression of disease-causing genes, potentially providing longer-lasting gene silencing than conventional RNA-based approaches.

The company's lead program is BB-301, an investigational gene therapy being developed for oculopharyngeal muscular dystrophy type 1 (OPMD1), a rare inherited disorder that affects muscles involved in swallowing and movement.

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