Benitec Biopharma (NASDAQ:BNTC) Upgraded to "Strong-Buy" at Wedbush

Key Points

• Wedbush upgraded Benitec Biopharma to “strong buy,” while analysts’ overall consensus remains “Moderate Buy” with an average price target of $24.80.
• BNTC shares rose 2.7% to open at $11.89, with a market capitalization of approximately $408 million; the stock has traded between $9.85 and $16.76 over the past year.
• The company beat quarterly earnings expectations, reporting a loss of $0.24 per share versus the anticipated $0.27 loss. Institutional investors own approximately 52.19% of Benitec’s shares.

Benitec Biopharma (NASDAQ:BNTC - Get Free Report) was upgraded by investment analysts at Wedbush to a "strong-buy" rating in a report issued on Tuesday,Zacks.com reports.

Several other equities analysts have also commented on the stock. Evercore assumed coverage on shares of Benitec Biopharma in a report on Tuesday, May 12th. They issued an "outperform" rating and a $25.00 price objective on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of Benitec Biopharma in a research report on Friday, July 17th. Wall Street Zen cut Benitec Biopharma from a "hold" rating to a "sell" rating in a research note on Saturday, June 13th. Finally, Guggenheim cut Benitec Biopharma from a "buy" rating to a "neutral" rating in a research note on Wednesday, June 10th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $24.80.

Benitec Biopharma Trading Up 2.7%

Shares of BNTC opened at $11.89 on Tuesday. The firm has a market cap of $408.42 million, a P/E ratio of -10.43 and a beta of 0.25. Benitec Biopharma has a 12-month low of $9.85 and a 12-month high of $16.76. The company's 50-day moving average price is $11.99 and its 200 day moving average price is $11.81.

Benitec Biopharma (NASDAQ:BNTC - Get Free Report) last posted its earnings results on Thursday, May 14th. The biotechnology company reported ($0.24) EPS for the quarter, beating analysts' consensus estimates of ($0.27) by $0.03. Equities research analysts forecast that Benitec Biopharma will post -1.04 earnings per share for the current year.

Institutional Investors Weigh In On Benitec Biopharma

Several large investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets lifted its holdings in Benitec Biopharma by 44.5% during the 3rd 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 increased its position in shares of Benitec Biopharma by 156.5% during the fourth quarter. Truvestments Capital LLC now owns 3,834 shares of the biotechnology company's stock worth $52,000 after acquiring an additional 2,339 shares during the period. Russell Investments Group Ltd. purchased a new stake in shares of Benitec Biopharma during the third quarter worth $79,000. Bank of America Corp DE raised its stake in shares of Benitec Biopharma by 2,255.8% in the second 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 in the last quarter. Finally, JPMorgan Chase & Co. acquired a new stake in shares of Benitec Biopharma in the second quarter valued at $80,000. 52.19% of the stock is owned by hedge funds and other institutional investors.

About Benitec Biopharma

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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