Benitec Biopharma Limited (NASDAQ:BNTC) Stock Rated "Moderate Buy" by Wall Street Analysts

Key Points

• Analyst sentiment is moderately bullish: Seven of ten analysts rate Benitec Biopharma a buy, two recommend holding and one recommends selling. The average 12-month price target is $24.00.
• BNTC shares opened at $8.87, near their one-year low of $8.52 and below the 50-day and 200-day moving averages of $11.68 and $11.83, respectively. The company reported quarterly EPS of -$0.26, in line with expectations.
• Institutional ownership stands at 52.19%: Several investment firms increased or initiated positions, including Simplify Asset Management, which raised its holdings by 271.9%. Benitec is developing gene-silencing therapies, led by BB-301 for a rare muscular disorder.

Benitec Biopharma Limited (NASDAQ:BNTC - Get Free Report) has received an average rating of "Moderate Buy" from the ten analysts that are presently covering the company, Marketbeat reports. One investment 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 twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $24.00.

A number of equities research analysts recently weighed in on BNTC shares. Citigroup restated a "market outperform" rating on shares of Benitec Biopharma in a research report on Tuesday. Wall Street Zen downgraded Benitec Biopharma from a "hold" rating to a "sell" rating in a research report on Saturday, September 19th. Wedbush lifted their price target on Benitec Biopharma from $16.00 to $17.00 and gave the company an "outperform" rating in a research note on Tuesday, September 15th. Weiss Ratings reissued a "sell (d-)" rating on shares of Benitec Biopharma in a research note on Friday, July 17th. Finally, HC Wainwright reaffirmed a "buy" rating on shares of Benitec Biopharma in a research note on Monday, September 28th.

Benitec Biopharma Price Performance

BNTC stock opened at $8.87 on Friday. The stock has a market cap of $309.39 million, a price-to-earnings ratio of -9.05 and a beta of 0.25. The company has a 50 day simple moving average of $11.68 and a 200 day simple moving average of $11.83. Benitec Biopharma has a 1 year low of $8.52 and a 1 year high of $16.76.

Benitec Biopharma (NASDAQ:BNTC - Get Free Report) last posted its earnings results on Monday, September 14th. The biotechnology company reported ($0.26) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.26). On average, equities research analysts anticipate that Benitec Biopharma will post -1.31 EPS for the current fiscal year.

Hedge Funds Weigh In On Benitec Biopharma

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Simplify Asset Management Inc. increased its holdings in Benitec Biopharma by 271.9% in the first quarter. Simplify Asset Management Inc. now owns 562,242 shares of the biotechnology company's stock valued at $5,988,000 after purchasing an additional 411,079 shares during the period. MYDA Advisors LLC lifted its holdings in Benitec Biopharma by 221.4% during the 4th quarter. MYDA Advisors LLC now owns 225,000 shares of the biotechnology company's stock worth $3,031,000 after buying an additional 155,000 shares during the period. AWM Investment Company Inc. acquired a new position in Benitec Biopharma during the 2nd quarter worth about $2,515,000. Bank of New York Mellon Corp bought a new stake in shares of Benitec Biopharma in the 2nd quarter valued at about $804,000. Finally, ADAR1 Capital Management LLC bought a new stake in shares of Benitec Biopharma in the 1st quarter valued at about $186,000. 52.19% of the stock is currently owned by institutional investors and hedge funds.

About Benitec Biopharma

Benitec Biopharma Limited NASDAQ: BNTC is a clinical-stage biotechnology company developing genetic medicines for chronic and potentially life-threatening diseases. The company's work is based on DNA-directed RNA interference (ddRNAi), a gene-silencing technology designed to produce sustained suppression of disease-causing genes within targeted cells.

Benitec's lead investigational product is BB-301, an adeno-associated virus gene therapy being developed for oculopharyngeal muscular dystrophy (OPMD), a rare inherited disorder that can cause progressive difficulty swallowing and weakness of the eyelid and throat muscles.

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