Wedbush Raises Benitec Biopharma (NASDAQ:BNTC) Price Target to $17.00

Key Points

• Wedbush raised Benitec Biopharma’s price target from $16 to $17 and maintained an “outperform” rating, implying 41.42% upside from the stock’s current price.
• Analyst sentiment remains mixed but generally positive: eight analysts rate BNTC a Buy, two a Hold, and one a Sell, producing a “Moderate Buy” consensus and a $25 average price target.
• Benitec reported quarterly EPS of -$0.26, in line with expectations, but revenue of negative $0.83 million fell well short of the $13.70 million consensus estimate; institutional investors own 52.19% of the company.

Benitec Biopharma (NASDAQ:BNTC - Get Free Report) had its price objective hoisted by analysts at Wedbush from $16.00 to $17.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has an "outperform" rating on the biotechnology company's stock. Wedbush's price objective suggests a potential upside of 41.42% from the company's current price.

A number of other brokerages have also recently commented on BNTC. Citigroup reaffirmed a "market outperform" rating on shares of Benitec Biopharma in a research report on Tuesday. Guggenheim cut Benitec Biopharma from a "buy" rating to a "neutral" rating in a report on Wednesday, June 10th. Wall Street Zen raised shares of Benitec Biopharma from a "sell" rating to a "hold" rating in a research note on Saturday, August 1st. Weiss Ratings reiterated a "sell (d-)" rating on shares of Benitec Biopharma in a research report on Friday, July 17th. Finally, Royal Bank Of Canada upgraded Benitec Biopharma to an "outperform" rating in a research report on Tuesday. Eight equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $25.00.

Benitec Biopharma Stock Performance

BNTC stock opened at $12.02 on Tuesday. The company has a market cap of $412.92 million, a price-to-earnings ratio of -10.61 and a beta of 0.27. Benitec Biopharma has a fifty-two week low of $9.85 and a fifty-two week high of $16.76. The business's 50-day moving average is $12.62 and its two-hundred day moving average is $12.04.

Benitec Biopharma (NASDAQ:BNTC - Get Free Report) last posted its quarterly earnings data on Monday, September 14th. The biotechnology company reported ($0.26) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.26). The firm had revenue of ($0.83) million during the quarter, compared to analysts' expectations of $13.70 million. Equities analysts predict that Benitec Biopharma will post -1.02 earnings per share for the current year.

Institutional Trading of Benitec Biopharma

Institutional investors have recently modified their holdings of the stock. California State Teachers Retirement System increased its holdings in Benitec Biopharma by 241.4% in the second quarter. California State Teachers Retirement System now owns 3,639 shares of the biotechnology company's stock valued at $49,000 after buying an additional 2,573 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Benitec Biopharma by 18.7% in 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 in the last quarter. Bank of America Corp DE grew its position in shares of Benitec Biopharma by 43.3% in the first quarter. Bank of America Corp DE now owns 17,376 shares of the biotechnology company's stock valued at $185,000 after purchasing an additional 5,251 shares during the last quarter. ADAR1 Capital Management LLC purchased a new position in shares of Benitec Biopharma during the 1st quarter worth approximately $186,000. Finally, Bank of New York Mellon Corp raised its position 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 during the last quarter. Hedge funds and other institutional investors own 52.19% of the company's stock.

About Benitec Biopharma

Benitec Biopharma Inc NASDAQ: BNTC is a clinical-stage biotechnology company developing genetic medicines based on DNA-directed RNA interference (ddRNAi). The company's technology is designed to enable long-lasting suppression of disease-causing genes by delivering genetic instructions that produce RNA interference molecules within targeted cells.

Benitec's lead product candidate is BB-301, an investigational gene therapy being developed for oculopharyngeal muscular dystrophy type 1 (OPMD), a rare inherited disorder that can cause progressive weakness of the muscles involved in swallowing and eye movement.

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