Benitec Biopharma Limited (NASDAQ:BNTC) Given Average Rating of "Buy" by Analysts

Key Points

• Benitec Biopharma (NASDAQ:BNTC) has received a consensus rating of "Buy" from analysts, with an average one-year target price of $26.00.
• Institutional investors hold 52.19% of Benitec Biopharma's stock, with significant recent investments from firms like Bank of America and Ameriprise Financial.
• The company's shares opened at $13.91, with a market cap of $365.14 million and a P/E ratio of -9.21.

Shares of Benitec Biopharma Limited (NASDAQ:BNTC - Get Free Report) have earned a consensus rating of "Buy" from the eight brokerages that are covering the company, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $26.00.

BNTC has been the topic of several recent research reports. TD Cowen initiated coverage on Benitec Biopharma in a research report on Monday, July 7th. They issued a "buy" rating on the stock. HC Wainwright restated a "buy" rating and issued a $28.00 price objective on shares of Benitec Biopharma in a research report on Monday, May 19th. Finally, JMP Securities restated a "market outperform" rating and issued a $20.00 price objective on shares of Benitec Biopharma in a research report on Thursday, May 15th.

Institutional Investors Weigh In On Benitec Biopharma

Several hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE boosted its position in Benitec Biopharma by 2,255.8% in the 2nd quarter. Bank of America Corp DE now owns 6,879 shares of the biotechnology company's stock worth $80,000 after purchasing an additional 6,587 shares in the last quarter. Ameriprise Financial Inc. boosted its position in Benitec Biopharma by 219.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 109,925 shares of the biotechnology company's stock worth $1,286,000 after purchasing an additional 75,507 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Benitec Biopharma during the 2nd quarter valued at approximately $93,000. Marshall Wace LLP purchased a new position in shares of Benitec Biopharma during the 2nd quarter valued at approximately $503,000. Finally, New York State Common Retirement Fund purchased a new position in shares of Benitec Biopharma during the 2nd quarter valued at approximately $95,000. Hedge funds and other institutional investors own 52.19% of the company's stock.

Benitec Biopharma Price Performance

Shares of NASDAQ BNTC opened at $13.91 on Friday. The business's 50 day moving average price is $12.41 and its 200 day moving average price is $13.29. The firm has a market cap of $365.14 million, a P/E ratio of -9.21 and a beta of 0.43. Benitec Biopharma has a 52 week low of $8.06 and a 52 week high of $17.15. The company has a quick ratio of 14.80, a current ratio of 14.80 and a debt-to-equity ratio of 0.01.

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.

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