Benitec Biopharma Limited (NASDAQ:BNTC) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Benitec Biopharma Limited (NASDAQ:BNTC) have received an average recommendation of “Moderate Buy” from the ten ratings firms that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and seven have given a buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $24.80.

Several equities research analysts have recently issued reports on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Benitec Biopharma in a research note on Friday, July 17th. Wall Street Zen raised Benitec Biopharma from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. Guggenheim downgraded Benitec Biopharma from a “buy” rating to a “neutral” rating in a research report on Wednesday, June 10th. Wedbush began coverage on Benitec Biopharma in a research note on Tuesday, July 28th. They issued an “outperform” rating and a $16.00 target price on the stock. Finally, Evercore initiated coverage on Benitec Biopharma in a research report on Tuesday, May 12th. They set an “outperform” rating and a $25.00 price target on the stock.

Benitec Biopharma Stock Performance

BNTC opened at $12.88 on Friday. Benitec Biopharma has a fifty-two week low of $9.85 and a fifty-two week high of $16.76. The firm has a 50-day moving average of $12.71 and a 200 day moving average of $11.91. The firm has a market cap of $442.43 million, a P/E ratio of -11.30 and a beta of 0.28.

Institutional Investors Weigh In On Benitec Biopharma

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BNTC. California State Teachers Retirement System boosted its position in Benitec Biopharma by 241.4% during the second quarter. California State Teachers Retirement System now owns 3,639 shares of the biotechnology company’s stock worth $49,000 after purchasing an additional 2,573 shares during the period. AWM Investment Company Inc. purchased a new position in shares of Benitec Biopharma in the second quarter worth about $2,515,000. Bank of New York Mellon Corp bought a new stake in shares of Benitec Biopharma in the second quarter valued at approximately $804,000. GAMMA Investing LLC raised its position in shares of Benitec Biopharma by 18.7% in the second quarter. GAMMA Investing LLC now owns 7,961 shares of the biotechnology company’s stock valued at $107,000 after purchasing an additional 1,256 shares during the period. Finally, Bank of America Corp DE lifted its stake in shares of Benitec Biopharma by 43.3% during the 1st quarter. Bank of America Corp DE now owns 17,376 shares of the biotechnology company’s stock valued at $185,000 after buying an additional 5,251 shares in the last quarter. 52.19% of the stock is currently owned by institutional investors.

Benitec Biopharma Company Profile

Benitec Biopharma Ltd (NASDAQ: BNTC) is a clinical-stage biotechnology company developing gene-silencing therapies for serious human diseases. The company’s proprietary DNA-directed RNA interference (ddRNAi) platform is designed to enable sustained expression of small RNA molecules that specifically target and silence disease-causing genes. By integrating RNAi sequences directly into DNA constructs, ddRNAi aims to provide a long-term therapeutic effect from a single administration.

Benitec’s lead programs include development of ddRNAi candidates for chronic hepatitis B virus infection and for certain ocular conditions.