Benitec Biopharma Limited (NASDAQ:BNTC) Given Consensus Recommendation of "Buy" by Analysts

Key Points

• Benitec Biopharma Limited (NASDAQ:BNTC) has received a consensus recommendation of "Buy" from eight brokerages, with seven analysts rating it as a buy and one as a strong buy.
• The average 12-month price target from analysts is $24.80, with JMP Securities and Oppenheimer setting targets of $20.00 and $29.00, respectively.
• Benitec reported a quarterly earnings miss with a loss of ($0.42) EPS, which was below the analyst consensus estimate of ($0.24).

Shares of Benitec Biopharma Limited (NASDAQ:BNTC - Get Free Report) have received an average rating of "Buy" from the eight brokerages that are currently covering the stock, Marketbeat.com reports. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $24.80.

A number of analysts recently issued reports on BNTC shares. JMP Securities reiterated a "market outperform" rating and issued a $20.00 price target on shares of Benitec Biopharma in a report on Wednesday, September 24th. Oppenheimer reiterated an "outperform" rating and issued a $29.00 target price (down from $35.00) on shares of Benitec Biopharma in a report on Tuesday, September 16th. TD Cowen started coverage on shares of Benitec Biopharma in a research note on Monday, July 7th. They issued a "buy" rating for the company. Finally, Wall Street Zen lowered shares of Benitec Biopharma from a "hold" rating to a "sell" rating in a research note on Friday, September 26th.

Benitec Biopharma Price Performance

Benitec Biopharma stock opened at $14.03 on Wednesday. The stock has a market cap of $368.29 million, a price-to-earnings ratio of -9.54 and a beta of 0.43. The company has a debt-to-equity ratio of 0.01, a current ratio of 54.67 and a quick ratio of 54.67. Benitec Biopharma has a 1 year low of $8.49 and a 1 year high of $17.15. The firm has a 50-day moving average of $12.86 and a two-hundred day moving average of $13.46.

Benitec Biopharma (NASDAQ:BNTC - Get Free Report) last announced its quarterly earnings results on Thursday, September 25th. The biotechnology company reported ($0.42) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.18). On average, research analysts forecast that Benitec Biopharma will post -1.48 earnings per share for the current year.

Institutional Investors Weigh In On Benitec Biopharma

Several hedge funds have recently modified their holdings of the business. MYDA Advisors LLC lifted its holdings in Benitec Biopharma by 4.0% during the first quarter. MYDA Advisors LLC now owns 52,000 shares of the biotechnology company's stock worth $677,000 after buying an additional 2,000 shares during the period. Police & Firemen s Retirement System of New Jersey purchased a new stake in shares of Benitec Biopharma during the 2nd quarter worth $38,000. Bank of America Corp DE lifted its stake in shares of Benitec Biopharma by 2,255.8% during 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 during the last quarter. JPMorgan Chase & Co. purchased a new stake in shares of Benitec Biopharma during the 2nd quarter worth $80,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Benitec Biopharma during the second quarter valued at about $93,000. Hedge funds and other institutional investors own 52.19% of the company's stock.

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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