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

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

BNTC has been the topic of several recent research reports. 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 company a "market outperform" rating in a research note on Thursday, April 10th.

Benitec Biopharma Trading Down 3.3 %

Shares of NASDAQ:BNTC traded down $0.48 during trading on Friday, hitting $13.95. 17,078 shares of the company's stock traded hands, compared to its average volume of 40,964. The company has a 50-day moving average price of $13.53 and a 200-day moving average price of $11.88. Benitec Biopharma has a 52 week low of $5.74 and a 52 week high of $16.90. The company has a market cap of $327.14 million, a price-to-earnings ratio of -9.24 and a beta of 0.34.

Benitec Biopharma (NASDAQ:BNTC - Get Free Report) last released its quarterly earnings results on Friday, February 14th. The biotechnology company reported ($0.36) earnings per share for the quarter, beating the consensus estimate of ($0.55) by $0.19. On average, analysts predict that Benitec Biopharma will post -1.48 earnings per share for the current fiscal year.

Insider Transactions at Benitec Biopharma

In other news, Director Suvretta Capital Management, L bought 900,000 shares of the business's stock in a transaction that occurred on Wednesday, March 26th. The stock was 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. This trade represents a 11.40 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.30% of the company's stock.

Institutional Trading of Benitec Biopharma

Several institutional investors and hedge funds have recently bought and sold shares of BNTC. Geode Capital Management LLC raised its stake 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 acquiring an additional 20,012 shares during the period. Adage Capital Partners GP L.L.C. lifted its stake in shares of Benitec Biopharma by 134.4% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 1,972,524 shares of the biotechnology company's stock worth $24,913,000 after buying an additional 1,131,129 shares during the last quarter. MYDA Advisors LLC bought a new stake in shares of Benitec Biopharma during the 4th quarter worth about $632,000. Franklin Resources Inc. grew its stake in Benitec Biopharma by 269.0% in the 4th quarter. Franklin Resources Inc. now owns 2,939,287 shares of the biotechnology company's stock valued at $37,123,000 after buying an additional 2,142,643 shares during the last quarter. Finally, 683 Capital Management LLC bought a new position in Benitec Biopharma in the 4th quarter valued at about $452,000. Institutional investors own 52.19% of the company's stock.

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.