Brokerages Set Benitec Biopharma Inc. (NASDAQ:BNTC) Target Price at $24.71

Benitec Biopharma Inc. (NASDAQ:BNTC - Get Free Report) has earned an average recommendation of "Buy" from the nine analysts that are currently covering the firm, Marketbeat reports. Seven research analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $24.71.

A number of equities analysts have recently weighed in on the company. JMP Securities restated a "market outperform" rating and issued a $20.00 target price on shares of Benitec Biopharma in a research note on Thursday, May 15th. HC Wainwright reissued a "buy" rating and issued a $28.00 price objective on shares of Benitec Biopharma in a research report on Monday, May 19th.

Insiders Place Their Bets

In other news, Director Suvretta Capital Management, L acquired 900,000 shares of the stock in a transaction that occurred on Wednesday, March 26th. The shares were acquired at an average cost of $13.00 per share, for a total transaction of $11,700,000.00. Following the purchase, the director now owns 8,793,245 shares of the company's stock, valued at approximately $114,312,185. The trade was a 11.40% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.30% of the company's stock.

Hedge Funds Weigh In On Benitec Biopharma

Large investors have recently modified their holdings of the business. Ameriprise Financial Inc. lifted its stake in shares of Benitec Biopharma by 138.4% during the 4th quarter. Ameriprise Financial Inc. now owns 35,476 shares of the biotechnology company's stock valued at $448,000 after buying an additional 20,597 shares in the last quarter. 683 Capital Management LLC bought a new stake in Benitec Biopharma during the 4th quarter valued at $452,000. Northern Trust Corp raised its holdings in Benitec Biopharma by 54.2% during the 4th quarter. Northern Trust Corp now owns 38,200 shares of the biotechnology company's stock valued at $482,000 after acquiring an additional 13,425 shares during the period. Informed Momentum Co LLC purchased a new stake in shares of Benitec Biopharma during the first quarter worth $512,000. Finally, Goldman Sachs Group Inc. bought a new position in shares of Benitec Biopharma in the first quarter worth $597,000. Hedge funds and other institutional investors own 52.19% of the company's stock.

Benitec Biopharma Stock Performance

BNTC traded down $0.52 during mid-day trading on Thursday, reaching $15.07. 33,793 shares of the stock were exchanged, compared to its average volume of 41,067. Benitec Biopharma has a 1 year low of $5.74 and a 1 year high of $16.90. The stock has a market capitalization of $385.79 million, a PE ratio of -9.98 and a beta of 0.34. The company has a 50 day moving average price of $13.47 and a two-hundred day moving average price of $12.27.

Benitec Biopharma (NASDAQ:BNTC - Get Free Report) last released its quarterly earnings results on Wednesday, May 14th. The biotechnology company reported ($0.24) earnings per share for the quarter, beating analysts' consensus estimates of ($0.36) by $0.12. Sell-side analysts expect that Benitec Biopharma will post -1.48 EPS for the current fiscal year.

Benitec Biopharma Company Profile

Benitec Biopharma Inc, a clinical-stage biotechnology company, focuses on the development of novel genetic medicines. The company develops DNA-directed RNA interference-based therapeutics for chronic and life-threatening human conditions. It is developing BB-301, an adeno-associated virus based gene therapy agent for treating oculopharyngeal muscular dystrophy.