Benitec Biopharma Inc. (NASDAQ:BNTC) Receives Average Rating of “Buy” from Brokerages

Benitec Biopharma Inc. (NASDAQ:BNTC) has received a consensus rating of “Buy” from the nine brokerages that are currently covering the stock, Marketbeat.com reports. Seven investment analysts have rated the stock with a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $24.43.

A number of brokerages have issued reports on BNTC. Robert W. Baird began coverage on shares of Benitec Biopharma in a report on Friday, December 13th. They issued an “outperform” rating and a $30.00 price target on the stock. Guggenheim reissued a “buy” rating and issued a $17.00 price target on shares of Benitec Biopharma in a report on Tuesday, December 3rd. HC Wainwright reissued a “buy” rating and issued a $28.00 price target on shares of Benitec Biopharma in a report on Friday. Finally, Baird R W raised shares of Benitec Biopharma to a “strong-buy” rating in a report on Thursday, December 12th.

Insider Transactions at Benitec Biopharma

In other news, Director Suvretta Capital Management, L bought 27,502 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was acquired 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 owns 7,981,725 shares of the company’s stock, valued at approximately $87,639,340.50. This represents a 0.35 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Acuta Capital Partners LLC purchased a new position in Benitec Biopharma in the third quarter worth about $274,000. Ameriprise Financial Inc. raised its holdings in Benitec Biopharma by 138.4% in the fourth quarter. Ameriprise Financial Inc. now owns 35,476 shares of the biotechnology company’s stock worth $448,000 after buying an additional 20,597 shares during the last quarter. 683 Capital Management LLC bought a new stake in shares of Benitec Biopharma in the fourth quarter worth approximately $452,000. Northern Trust Corp grew its stake in shares of Benitec Biopharma by 54.2% in the fourth quarter. Northern Trust Corp now owns 38,200 shares of the biotechnology company’s stock worth $482,000 after acquiring an additional 13,425 shares during the period. Finally, MYDA Advisors LLC bought a new stake in shares of Benitec Biopharma in the fourth quarter worth approximately $632,000. 52.19% of the stock is owned by hedge funds and other institutional investors.

Benitec Biopharma Stock Performance

Benitec Biopharma stock opened at $10.53 on Tuesday. The firm’s fifty day moving average price is $11.25 and its 200-day moving average price is $10.36. Benitec Biopharma has a fifty-two week low of $3.65 and a fifty-two week high of $13.29.

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

About Benitec Biopharma

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.