Benitec Biopharma Inc. (NASDAQ:BNTC) Receives $24.71 Average PT from Analysts

Shares of Benitec Biopharma Inc. (NASDAQ:BNTC - Get Free Report) have received a consensus recommendation of "Buy" from the nine research firms that are covering the company, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $24.71.

Several research firms have recently weighed in on BNTC. HC Wainwright reissued a "buy" rating and issued a $28.00 price target on shares of Benitec Biopharma in a research note on Monday, March 24th. JMP Securities boosted their target price on Benitec Biopharma from $18.00 to $20.00 and gave the stock a "market outperform" rating in a report on Thursday, April 10th.

Benitec Biopharma Stock Performance

Benitec Biopharma stock traded up $0.31 during trading on Friday, reaching $14.05. The company had a trading volume of 7,730 shares, compared to its average volume of 40,997. The firm's 50-day simple moving average is $13.57 and its 200 day simple moving average is $11.91. The firm has a market capitalization of $329.49 million, a PE ratio of -9.30 and a beta of 0.34. Benitec Biopharma has a 1-year low of $5.74 and a 1-year high of $16.90.

Benitec Biopharma (NASDAQ:BNTC - Get Free Report) last posted its quarterly earnings data on Friday, February 14th. The biotechnology company reported ($0.36) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.55) by $0.19. Analysts anticipate that Benitec Biopharma will post -1.48 EPS for the current year.

Insider Buying and Selling

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

Hedge Funds Weigh In On Benitec Biopharma

Several large investors have recently made changes to their positions in the stock. Geode Capital Management LLC increased its holdings in Benitec Biopharma by 31.3% in the 3rd quarter. Geode Capital Management LLC now owns 83,987 shares of the biotechnology company's stock valued at $772,000 after purchasing an additional 20,012 shares during the last quarter. Adage Capital Partners GP L.L.C. raised its holdings in shares of Benitec Biopharma by 134.4% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 1,972,524 shares of the biotechnology company's stock valued at $24,913,000 after buying an additional 1,131,129 shares during the period. MYDA Advisors LLC acquired a new position in Benitec Biopharma during the 4th quarter worth about $632,000. Franklin Resources Inc. lifted its stake in Benitec Biopharma by 269.0% during the 4th quarter. Franklin Resources Inc. now owns 2,939,287 shares of the biotechnology company's stock worth $37,123,000 after acquiring an additional 2,142,643 shares in the last quarter. Finally, 683 Capital Management LLC purchased a new position in Benitec Biopharma during the 4th quarter valued at about $452,000. 52.19% of the stock is currently owned by institutional investors and hedge funds.

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.