Benitec Biopharma (NASDAQ:BNTC) Releases Quarterly Earnings Results, Misses Estimates By $0.18 EPS

Key Points

• Benitec Biopharma reported a quarterly loss of ($0.42) EPS, missing estimates by ($0.18).
• Several institutional investors significantly increased their holdings during the second quarter, with 52.19% of the company's stock now owned by hedge funds and other institutional investors.
• Despite the earnings miss, the stock has a consensus rating of "Buy" with a target price of $24.80, according to analysts.

Benitec Biopharma (NASDAQ:BNTC - Get Free Report) announced its quarterly earnings data on Thursday. The biotechnology company reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.18), Zacks reports.

Benitec Biopharma Price Performance

Shares of NASDAQ:BNTC opened at $14.09 on Thursday. Benitec Biopharma has a one year low of $8.49 and a one year high of $17.15. The company has a 50-day simple moving average of $12.65 and a 200-day simple moving average of $13.47. The company has a debt-to-equity ratio of 0.01, a quick ratio of 14.80 and a current ratio of 14.80. The stock has a market capitalization of $369.86 million, a price-to-earnings ratio of -9.58 and a beta of 0.43.

Institutional Investors Weigh In On Benitec Biopharma

Several large investors have recently modified their holdings of the stock. JPMorgan Chase & Co. acquired a new stake in shares of Benitec Biopharma during the second quarter worth $80,000. Bank of America Corp DE lifted its holdings in shares of Benitec Biopharma by 2,255.8% during the second 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 period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Benitec Biopharma during the second quarter worth $93,000. New York State Common Retirement Fund acquired a new stake in shares of Benitec Biopharma during the second quarter worth $95,000. Finally, XTX Topco Ltd acquired a new stake in shares of Benitec Biopharma during the second quarter worth $127,000. Hedge funds and other institutional investors own 52.19% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on BNTC. TD Cowen initiated coverage on shares of Benitec Biopharma in a research report on Monday, July 7th. They set a "buy" rating for the company. JMP Securities reaffirmed a "market outperform" rating and set a $20.00 price objective on shares of Benitec Biopharma in a research report on Wednesday. Finally, Oppenheimer restated an "outperform" rating and set a $29.00 target price (down previously from $35.00) on shares of Benitec Biopharma in a research note on Tuesday, September 16th. One equities research analyst has rated the stock with a Strong Buy rating and seven have given a Buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $24.80.

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.

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