Benitec Biopharma Limited (NASDAQ:BNTC) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Key Points

• Analysts give Benitec Biopharma a “Moderate Buy” consensus: Seven of ten covering brokerages rate the stock a buy, while two recommend holding and one recommends selling. The average 12-month price target is $24.80.
• Recent ratings were mixed, with Evercore and Wedbush initiating coverage at “outperform,” while Guggenheim downgraded the stock to “neutral” and Weiss Ratings reaffirmed a sell rating.
• BNTC opened at $13.48 and has a market capitalization of approximately $463 million; institutional investors and hedge funds own 52.19% of the shares. Benitec is developing gene-silencing therapies for diseases including chronic hepatitis B and certain eye conditions.

Shares of Benitec Biopharma Limited (NASDAQ:BNTC - Get Free Report) have received an average recommendation of "Moderate Buy" from the ten brokerages that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $24.80.

A number of brokerages have recently issued reports on BNTC. Wall Street Zen raised shares of Benitec Biopharma from a "sell" rating to a "hold" rating in a research report on Saturday, August 1st. Evercore began coverage on shares of Benitec Biopharma in a research report on Tuesday, May 12th. They set an "outperform" rating and a $25.00 price target on the stock. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Benitec Biopharma in a research report on Friday, July 17th. Guggenheim cut shares of Benitec Biopharma from a "buy" rating to a "neutral" rating in a research note on Wednesday, June 10th. Finally, Wedbush began coverage on shares of Benitec Biopharma in a report on Tuesday, July 28th. They issued an "outperform" rating and a $16.00 price objective for the company.

Benitec Biopharma Price Performance

Shares of NASDAQ BNTC opened at $13.48 on Friday. The stock's fifty day moving average price is $12.63 and its two-hundred day moving average price is $11.90. Benitec Biopharma has a one year low of $9.85 and a one year high of $16.76. The firm has a market cap of $463.04 million, a price-to-earnings ratio of -11.82 and a beta of 0.28.

Institutional Investors Weigh In On Benitec Biopharma

Hedge funds and other institutional investors have recently made changes to their positions in the business. BNP Paribas Financial Markets grew its position in Benitec Biopharma by 44.5% during the third quarter. BNP Paribas Financial Markets now owns 2,937 shares of the biotechnology company's stock worth $41,000 after buying an additional 904 shares in the last quarter. Truvestments Capital LLC raised its holdings in Benitec Biopharma by 156.5% in the 4th quarter. Truvestments Capital LLC now owns 3,834 shares of the biotechnology company's stock valued at $52,000 after acquiring an additional 2,339 shares in the last quarter. Russell Investments Group Ltd. acquired a new position in Benitec Biopharma in the 3rd quarter valued at $79,000. Bank of America Corp DE lifted its position 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 valued at $80,000 after acquiring an additional 6,587 shares during the period. Finally, JPMorgan Chase & Co. bought a new stake in shares of Benitec Biopharma during the 2nd quarter valued at $80,000. 52.19% of the stock is currently owned by institutional investors and hedge funds.

Benitec Biopharma Company Profile

Benitec Biopharma Ltd NASDAQ: BNTC is a clinical-stage biotechnology company developing gene-silencing therapies for serious human diseases. The company's proprietary DNA-directed RNA interference (ddRNAi) platform is designed to enable sustained expression of small RNA molecules that specifically target and silence disease-causing genes. By integrating RNAi sequences directly into DNA constructs, ddRNAi aims to provide a long-term therapeutic effect from a single administration.

Benitec's lead programs include development of ddRNAi candidates for chronic hepatitis B virus infection and for certain ocular conditions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source