Benitec Biopharma (NASDAQ:BNTC) Upgraded by Wall Street Zen to "Hold" Rating

Key Points

• Wall Street Zen upgraded Benitec Biopharma from “sell” to “hold,” while analysts’ overall consensus remains “Moderate Buy” with a $24.80 price target.
• Benitec shares opened at $11.71, near their 50-day and 200-day moving averages, with a market capitalization of about $402 million and a one-year trading range of $9.85 to $16.76.
• The company exceeded quarterly EPS expectations, reporting a loss of $0.24 per share versus the expected $0.27 loss; institutional investors own approximately 52.19% of its stock.

Benitec Biopharma (NASDAQ:BNTC - Get Free Report) was upgraded by Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued to investors on Saturday.

A number of other equities research analysts have also recently weighed in on the company. Guggenheim cut Benitec Biopharma from a "buy" rating to a "neutral" rating in a research note on Wednesday, June 10th. Wedbush initiated coverage on shares of Benitec Biopharma in a research note on Tuesday. They set an "outperform" rating and a $16.00 price objective for the company. Weiss Ratings reissued a "sell (d-)" rating on shares of Benitec Biopharma in a research report on Friday, July 17th. Finally, Evercore initiated coverage on Benitec Biopharma in a research report on Tuesday, May 12th. They issued an "outperform" rating and a $25.00 price objective for the company. Seven investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Benitec Biopharma currently has an average rating of "Moderate Buy" and a consensus price target of $24.80.

Benitec Biopharma Stock Performance

NASDAQ:BNTC opened at $11.71 on Friday. The firm has a 50-day simple moving average of $12.03 and a 200-day simple moving average of $11.81. 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 $402.24 million, a P/E ratio of -10.27 and a beta of 0.25.

Benitec Biopharma (NASDAQ:BNTC - Get Free Report) last issued its quarterly earnings data on Thursday, May 14th. The biotechnology company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.03. On average, research analysts predict that Benitec Biopharma will post -1.02 EPS for the current fiscal year.

Institutional Investors Weigh In On Benitec Biopharma

Large investors have recently made changes to their positions in the stock. RA Capital Management L.P. acquired a new position in shares of Benitec Biopharma in the 4th quarter valued at $24,920,000. Suvretta Capital Management LLC grew its stake in Benitec Biopharma by 16.9% during the 4th quarter. Suvretta Capital Management LLC now owns 11,548,351 shares of the biotechnology company's stock valued at $155,556,000 after purchasing an additional 1,671,845 shares during the last quarter. Siren L.L.C. purchased a new stake in Benitec Biopharma during the 4th quarter valued at about $10,439,000. Alyeska Investment Group L.P. acquired a new position in shares of Benitec Biopharma in the fourth quarter valued at about $10,102,000. Finally, Balyasny Asset Management L.P. acquired a new position in shares of Benitec Biopharma in the fourth quarter valued at about $8,776,000. 52.19% of the stock is owned by hedge funds and other institutional investors.

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.

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