Benitec Biopharma Inc. (NASDAQ:BNTC) Receives $24.43 Average Price Target from Brokerages

Benitec Biopharma Inc. (NASDAQ:BNTC - Get Free Report) has been assigned an average rating of "Buy" from the nine brokerages that are presently covering the firm, Marketbeat Ratings reports. Seven analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $24.43.

A number of research firms recently issued reports on BNTC. Robert W. Baird began coverage on shares of Benitec Biopharma in a research note on Friday, December 13th. They issued an "outperform" rating and a $30.00 price target for the company. Guggenheim reissued a "buy" rating and issued a $17.00 price target on shares of Benitec Biopharma in a research note on Tuesday, December 3rd. HC Wainwright reissued a "buy" rating and issued a $28.00 price target on shares of Benitec Biopharma in a research note on Friday. Finally, Baird R W raised shares of Benitec Biopharma to a "strong-buy" rating in a research note on Thursday, December 12th.

Insider Buying and Selling at Benitec Biopharma

In other news, Director Suvretta Capital Management, L purchased 42,000 shares of the business's stock in a transaction dated Tuesday, December 3rd. The shares were purchased at an average price of $9.60 per share, for a total transaction of $403,200.00. Following the completion of the acquisition, the director now directly owns 7,957,365 shares in the company, valued at $76,390,704. This represents a 0.53 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.30% of the company's stock.

Institutional Investors Weigh In On Benitec Biopharma

A number of institutional investors have recently made changes to their positions in the company. Northern Trust Corp grew its holdings in shares of Benitec Biopharma by 54.2% during the fourth quarter. Northern Trust Corp now owns 38,200 shares of the biotechnology company's stock valued at $482,000 after buying an additional 13,425 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Benitec Biopharma by 31.3% during the third quarter. Geode Capital Management LLC now owns 83,987 shares of the biotechnology company's stock valued at $772,000 after buying an additional 20,012 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Benitec Biopharma by 138.4% during the fourth quarter. Ameriprise Financial Inc. now owns 35,476 shares of the biotechnology company's stock valued at $448,000 after buying an additional 20,597 shares during the last quarter. Lion Point Capital LP grew its holdings in shares of Benitec Biopharma by 59.0% during the fourth quarter. Lion Point Capital LP now owns 62,000 shares of the biotechnology company's stock valued at $783,000 after buying an additional 23,000 shares during the last quarter. Finally, Acuta Capital Partners LLC purchased a new stake in shares of Benitec Biopharma during the third quarter valued at approximately $274,000. Hedge funds and other institutional investors own 52.19% of the company's stock.

Benitec Biopharma Stock Performance

NASDAQ BNTC traded down $0.27 during trading on Tuesday, hitting $11.30. 16,102 shares of the company's stock traded hands, compared to its average volume of 30,244. The stock has a fifty day moving average of $11.30 and a two-hundred day moving average of $10.30. Benitec Biopharma has a 12-month low of $3.28 and a 12-month high of $13.29.

Benitec Biopharma (NASDAQ:BNTC - Get Free Report) last released its quarterly earnings results on Friday, February 14th. The biotechnology company reported ($0.36) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.55) by $0.19. On average, equities analysts forecast that Benitec Biopharma will post -1.48 EPS for the current year.

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.