Benitec Biopharma Inc. (NASDAQ:BNTC) Given Consensus Rating of "Buy" by Analysts

Shares of Benitec Biopharma Inc. (NASDAQ:BNTC - Get Free Report) have been given a consensus rating of "Buy" by the nine brokerages that are currently covering the firm, Marketbeat reports. Seven research analysts have rated the stock with a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $24.71.

Several brokerages have issued reports on BNTC. JMP Securities reiterated a "market outperform" rating and set a $20.00 target price on shares of Benitec Biopharma in a research report on Thursday, May 15th. HC Wainwright reiterated a "buy" rating and set a $28.00 target price on shares of Benitec Biopharma in a research report on Monday, May 19th.

Insider Transactions at Benitec Biopharma

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

Institutional Investors 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. raised its holdings in 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 during 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 buying an additional 13,425 shares during the last quarter. Informed Momentum Co LLC bought a new stake in Benitec Biopharma during the 1st quarter valued at $512,000. Finally, Goldman Sachs Group Inc. bought a new stake in Benitec Biopharma during the 1st quarter valued at $597,000. 52.19% of the stock is currently owned by institutional investors.

Benitec Biopharma Stock Performance

Benitec Biopharma stock traded up $0.25 during mid-day trading on Thursday, hitting $15.61. 54,146 shares of the company traded hands, compared to its average volume of 41,118. Benitec Biopharma has a one year low of $5.74 and a one year high of $16.90. The stock has a market cap of $399.62 million, a price-to-earnings ratio of -10.34 and a beta of 0.34. The stock has a fifty day moving average price of $13.51 and a 200-day moving average price of $12.33.

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

About Benitec Biopharma

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.