Benitec Biopharma (NASDAQ:BNTC) Stock Rating Lowered by Zacks Research

Key Points

• Benitec Biopharma has been downgraded by Zacks Research from a "hold" to a "strong sell" rating, indicating decreased investor confidence.
• Despite the downgrade, other analysts maintain varied ratings, with prices targets ranging from $20.00 to $29.00 focusing on a potential recovery.
• The company reported a quarterly loss of ($0.42) per share, which was significantly below analyst estimates of ($0.24).

Benitec Biopharma (NASDAQ:BNTC - Get Free Report) was downgraded by analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a research note issued to investors on Monday,Zacks.com reports.

Several other research analysts have also weighed in on the company. JMP Securities reissued a "market outperform" rating and issued a $20.00 price objective on shares of Benitec Biopharma in a research report on Wednesday, September 24th. TD Cowen started coverage on Benitec Biopharma in a research note on Monday, July 7th. They issued a "buy" rating for the company. Wall Street Zen downgraded Benitec Biopharma from a "hold" rating to a "sell" rating in a research note on Friday, September 26th. Oppenheimer restated an "outperform" rating and issued a $29.00 target price (down from $35.00) on shares of Benitec Biopharma in a research note on Tuesday, September 16th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Benitec Biopharma in a research note on Saturday, September 27th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $24.80.

Benitec Biopharma Stock Performance

BNTC stock opened at $13.78 on Monday. The stock has a 50-day moving average price of $13.10 and a 200-day moving average price of $13.39. Benitec Biopharma has a 1-year low of $9.09 and a 1-year high of $17.15. The company has a current ratio of 54.67, a quick ratio of 54.67 and a debt-to-equity ratio of 0.01. The firm has a market cap of $361.73 million, a PE ratio of -9.37 and a beta of 0.41.

Benitec Biopharma (NASDAQ:BNTC - Get Free Report) last posted its quarterly earnings data on Thursday, September 25th. The biotechnology company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.18). As a group, equities research analysts expect that Benitec Biopharma will post -1.48 earnings per share for the current year.

Hedge Funds Weigh In On Benitec Biopharma

A number of hedge funds have recently added to or reduced their stakes in BNTC. MYDA Advisors LLC lifted its position in shares of Benitec Biopharma by 4.0% during the 1st 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 in the last quarter. Police & Firemen s Retirement System of New Jersey bought a new position in shares of Benitec Biopharma during the 2nd quarter worth approximately $38,000. 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 worth $80,000 after buying an additional 6,587 shares in the last quarter. JPMorgan Chase & Co. bought a new position in shares of Benitec Biopharma during the 2nd quarter worth approximately $80,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Benitec Biopharma during the 2nd quarter worth approximately $93,000. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.