JMP Securities Reiterates “Market Outperform” Rating for Benitec Biopharma (NASDAQ:BNTC)

Benitec Biopharma (NASDAQ:BNTC)‘s stock had its “market outperform” rating restated by equities research analysts at JMP Securities in a research report issued to clients and investors on Monday, Benzinga reports. They presently have a $16.00 price target on the biotechnology company’s stock. JMP Securities’ price objective would suggest a potential upside of 45.79% from the company’s current price.

BNTC has been the subject of several other reports. Guggenheim assumed coverage on shares of Benitec Biopharma in a research note on Thursday, September 12th. They issued a “buy” rating and a $17.00 target price for the company. Leerink Partnrs raised shares of Benitec Biopharma to a “strong-buy” rating in a research note on Monday, July 22nd. Piper Sandler initiated coverage on shares of Benitec Biopharma in a research report on Thursday, June 13th. They issued an “overweight” rating and a $30.00 target price on the stock. Finally, Leerink Partners initiated coverage on shares of Benitec Biopharma in a research report on Monday, July 22nd. They set an “outperform” rating and a $13.00 price target for the company. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $19.00.

Benitec Biopharma Trading Up 19.4 %

BNTC opened at $10.98 on Monday. Benitec Biopharma has a 52 week low of $2.69 and a 52 week high of $12.89. The business’s fifty day simple moving average is $8.89 and its 200 day simple moving average is $7.99. The company has a quick ratio of 4.18, a current ratio of 4.18 and a debt-to-equity ratio of 0.01.

Hedge Funds Weigh In On Benitec Biopharma

Hedge funds and other institutional investors have recently modified their holdings of the company. Nantahala Capital Management LLC purchased a new position in shares of Benitec Biopharma in the 2nd quarter valued at $5,881,000. Simplify Asset Management Inc. purchased a new stake in Benitec Biopharma during the 2nd quarter worth $358,000. GAMMA Investing LLC increased its holdings in Benitec Biopharma by 53.0% in the 2nd quarter. GAMMA Investing LLC now owns 5,438 shares of the biotechnology company’s stock valued at $38,000 after purchasing an additional 1,884 shares in the last quarter. Finally, Janus Henderson Group PLC raised its position in Benitec Biopharma by 35.5% in the first quarter. Janus Henderson Group PLC now owns 244,491 shares of the biotechnology company’s stock valued at $1,266,000 after purchasing an additional 64,092 shares during the period. 52.19% of the stock is owned by institutional investors and hedge funds.

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.