Brokerages Set Benitec Biopharma Inc. (NASDAQ:BNTC) Price Target at $24.43

Benitec Biopharma Inc. (NASDAQ:BNTC - Get Free Report) has been assigned a consensus rating of "Buy" from the nine ratings firms that are presently covering the firm, MarketBeat reports. Seven research analysts have rated the stock with a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $24.43.

BNTC has been the topic of a number of recent research reports. HC Wainwright reaffirmed a "buy" rating and issued a $28.00 target price on shares of Benitec Biopharma in a report on Friday, February 21st. Guggenheim reissued a "buy" rating and set a $17.00 price target on shares of Benitec Biopharma in a report on Tuesday, December 3rd. Robert W. Baird started coverage on Benitec Biopharma in a report on Friday, December 13th. They issued an "outperform" rating and a $30.00 target price on the stock. Finally, Baird R W raised Benitec Biopharma to a "strong-buy" rating in a report on Thursday, December 12th.

Insider Transactions at Benitec Biopharma

In related news, Director Suvretta Capital Management, L acquired 27,502 shares of the company's stock in a transaction dated Monday, December 23rd. The shares were purchased at an average cost of $10.98 per share, with a total value of $301,971.96. Following the completion of the acquisition, the director now directly owns 7,981,725 shares of the company's stock, valued at $87,639,340.50. This represents a 0.35 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.30% of the company's stock.

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Institutional Investors Weigh In On Benitec Biopharma

A number of large investors have recently made changes to their positions in the stock. Northern Trust Corp boosted its holdings in Benitec Biopharma by 54.2% in the fourth quarter. Northern Trust Corp now owns 38,200 shares of the biotechnology company's stock valued at $482,000 after purchasing an additional 13,425 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Benitec Biopharma by 31.3% during the 3rd quarter. Geode Capital Management LLC now owns 83,987 shares of the biotechnology company's stock worth $772,000 after acquiring an additional 20,012 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Benitec Biopharma by 138.4% during the 4th quarter. Ameriprise Financial Inc. now owns 35,476 shares of the biotechnology company's stock worth $448,000 after acquiring an additional 20,597 shares in the last quarter. Lion Point Capital LP boosted its stake in shares of Benitec Biopharma by 59.0% during the 4th quarter. Lion Point Capital LP now owns 62,000 shares of the biotechnology company's stock worth $783,000 after acquiring an additional 23,000 shares in the last quarter. Finally, Acuta Capital Partners LLC purchased a new stake in shares of Benitec Biopharma during the 3rd quarter worth about $274,000. 52.19% of the stock is owned by hedge funds and other institutional investors.

Benitec Biopharma Stock Performance

Shares of BNTC stock traded up $0.18 on Friday, reaching $15.52. The stock had a trading volume of 60,874 shares, compared to its average volume of 51,861. The stock has a market cap of $363.96 million, a P/E ratio of -10.28 and a beta of 0.92. Benitec Biopharma has a 1 year low of $4.75 and a 1 year high of $15.97. The company has a 50 day simple moving average of $11.51 and a 200 day simple moving average of $10.77.

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 research analysts anticipate that Benitec Biopharma will post -1.48 earnings per share for the current fiscal 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.