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

Key Points

• Benitec Biopharma has a “Moderate Buy” consensus among 10 analysts: seven recommend buying, two advise holding, and one recommends selling. The average 12-month price target is $24, compared with the reported share price of $11.05.
• Institutional interest has increased, with several hedge funds and asset managers adding to their positions; institutional investors collectively own 52.19% of the company.
• The clinical-stage biotechnology company reported quarterly adjusted losses of $0.26 per share, in line with estimates, while revenue of $0.83 million fell well short of the $13.70 million consensus expectation. Its lead program is BB-301, a gene therapy candidate for a rare muscular disorder.

Shares of Benitec Biopharma Limited (NASDAQ:BNTC - Get Free Report) have earned an average recommendation of "Moderate Buy" from the ten research firms that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and seven have given a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $24.00.

Several equities analysts recently issued reports on BNTC shares. Guggenheim lowered shares of Benitec Biopharma from a "buy" rating to a "neutral" rating in a report on Wednesday, June 10th. Wall Street Zen upgraded Benitec Biopharma from a "sell" rating to a "hold" rating in a report on Saturday, August 1st. Wedbush increased their target price on Benitec Biopharma from $16.00 to $17.00 and gave the company an "outperform" rating in a research report on Tuesday. Weiss Ratings reiterated a "sell (d-)" rating on shares of Benitec Biopharma in a report on Friday, July 17th. Finally, Royal Bank Of Canada raised Benitec Biopharma to an "outperform" rating in a research report on Tuesday.

Hedge Funds Weigh In On Benitec Biopharma

Several institutional investors and hedge funds have recently added to or reduced their stakes in BNTC. Simplify Asset Management Inc. lifted its position in shares of Benitec Biopharma by 271.9% during the first quarter. Simplify Asset Management Inc. now owns 562,242 shares of the biotechnology company's stock valued at $5,988,000 after buying an additional 411,079 shares during the last quarter. MYDA Advisors LLC boosted its holdings in shares of Benitec Biopharma by 221.4% in the 4th quarter. MYDA Advisors LLC now owns 225,000 shares of the biotechnology company's stock valued at $3,031,000 after buying an additional 155,000 shares in the last quarter. AWM Investment Company Inc. purchased a new position in shares of Benitec Biopharma in the 2nd quarter worth approximately $2,515,000. Bank of New York Mellon Corp purchased a new position in shares of Benitec Biopharma in the 2nd quarter worth approximately $804,000. Finally, Empery Asset Management LP bought a new position in shares of Benitec Biopharma during the 4th quarter worth approximately $747,000. Hedge funds and other institutional investors own 52.19% of the company's stock.

Benitec Biopharma Stock Performance

NASDAQ BNTC opened at $11.05 on Wednesday. The company has a market capitalization of $379.57 million, a price-to-earnings ratio of -11.28 and a beta of 0.27. The company's 50-day simple moving average is $12.57 and its two-hundred day simple moving average is $12.04. Benitec Biopharma has a one year low of $9.85 and a one year high of $16.76.

Benitec Biopharma (NASDAQ:BNTC - Get Free Report) last announced its quarterly earnings results on Monday, September 14th. The biotechnology company reported ($0.26) earnings per share for the quarter, hitting the consensus estimate of ($0.26). The business had revenue of ($0.83) million during the quarter, compared to analysts' expectations of $13.70 million. Equities analysts expect that Benitec Biopharma will post -1.32 earnings per share for the current fiscal year.

Benitec Biopharma Company Profile

Benitec Biopharma Inc NASDAQ: BNTC is a clinical-stage biotechnology company developing genetic medicines based on DNA-directed RNA interference (ddRNAi). The company's technology is designed to enable long-lasting suppression of disease-causing genes by delivering genetic instructions that produce RNA interference molecules within targeted cells.

Benitec's lead product candidate is BB-301, an investigational gene therapy being developed for oculopharyngeal muscular dystrophy type 1 (OPMD), a rare inherited disorder that can cause progressive weakness of the muscles involved in swallowing and eye movement.

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