Benitec Biopharma Inc. (NASDAQ:BNTC) Receives $24.71 Consensus Target Price from Analysts

Shares of Benitec Biopharma Inc. (NASDAQ:BNTC) have earned a consensus recommendation of “Buy” from the nine research firms that are presently covering the firm, MarketBeat Ratings reports. Seven analysts have rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $24.71.

A number of research firms have commented on BNTC. HC Wainwright restated a “buy” rating and set a $28.00 price target on shares of Benitec Biopharma in a research note on Monday, March 24th. JMP Securities increased their target price on Benitec Biopharma from $18.00 to $20.00 and gave the stock a “market outperform” rating in a research note on Thursday, April 10th.

Insider Buying and Selling at Benitec Biopharma

In other news, Director Suvretta Capital Management, L acquired 900,000 shares of Benitec Biopharma stock in a transaction dated Wednesday, March 26th. The shares were acquired at an average cost of $13.00 per share, for a total transaction of $11,700,000.00. Following the acquisition, the director now owns 8,793,245 shares of the company’s stock, valued at $114,312,185. This trade represents a 11.40 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Benitec Biopharma

Several large investors have recently bought and sold shares of the business. Suvretta Capital Management LLC boosted its position in shares of Benitec Biopharma by 1.5% during the 4th quarter. Suvretta Capital Management LLC now owns 8,960,009 shares of the biotechnology company’s stock worth $113,165,000 after acquiring an additional 130,956 shares in the last quarter. Franklin Resources Inc. boosted its holdings in Benitec Biopharma by 269.0% in the fourth quarter. Franklin Resources Inc. now owns 2,939,287 shares of the biotechnology company’s stock valued at $37,123,000 after purchasing an additional 2,142,643 shares in the last quarter. Janus Henderson Group PLC increased its stake in Benitec Biopharma by 198.5% in the fourth quarter. Janus Henderson Group PLC now owns 2,616,427 shares of the biotechnology company’s stock valued at $33,268,000 after purchasing an additional 1,739,904 shares during the last quarter. Adage Capital Partners GP L.L.C. raised its holdings in Benitec Biopharma by 134.4% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,972,524 shares of the biotechnology company’s stock worth $24,913,000 after purchasing an additional 1,131,129 shares in the last quarter. Finally, Infinitum Asset Management LLC purchased a new stake in shares of Benitec Biopharma during the 4th quarter worth approximately $2,652,000. Hedge funds and other institutional investors own 52.19% of the company’s stock.

Benitec Biopharma Trading Up 0.1 %

NASDAQ BNTC opened at $13.75 on Friday. The stock has a fifty day simple moving average of $13.61 and a 200-day simple moving average of $11.94. The stock has a market cap of $322.45 million, a PE ratio of -9.11 and a beta of 0.34. Benitec Biopharma has a twelve month low of $5.74 and a twelve month high of $16.90.

Benitec Biopharma (NASDAQ:BNTC) last announced its quarterly earnings results on Friday, February 14th. The biotechnology company reported ($0.36) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.19. Research analysts predict 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.