Wedbush Issues Positive Forecast for Benitec Biopharma (NASDAQ:BNTC) Stock Price

Benitec Biopharma (NASDAQ:BNTC) had its price target boosted by investment analysts at Wedbush from $16.00 to $17.00 in a research report issued on Tuesday, Benzinga reports. The firm presently has an “outperform” rating on the biotechnology company’s stock. Wedbush’s price objective indicates a potential upside of 41.42% from the company’s previous close.

A number of other equities analysts also recently commented on the company. Wall Street Zen upgraded Benitec Biopharma from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. Royal Bank Of Canada raised shares of Benitec Biopharma to an “outperform” rating in a research report on Tuesday. Citigroup reissued a “market outperform” rating on shares of Benitec Biopharma in a research note on Tuesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Benitec Biopharma in a research report on Friday, July 17th. Finally, Guggenheim lowered Benitec Biopharma from a “buy” rating to a “neutral” rating in a research report on Wednesday, June 10th. Eight equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Benitec Biopharma presently has an average rating of “Moderate Buy” and an average price target of $25.00.

Benitec Biopharma Price Performance

NASDAQ BNTC opened at $12.02 on Tuesday. The company has a market cap of $412.92 million, a P/E ratio of -10.61 and a beta of 0.27. Benitec Biopharma has a 12 month low of $9.85 and a 12 month high of $16.76. The company has a 50-day moving average of $12.62 and a 200-day moving average of $12.04.

Benitec Biopharma (NASDAQ:BNTC) last announced its quarterly earnings results on Monday, September 14th. The biotechnology company reported ($0.26) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.26). The company had revenue of ($0.83) million during the quarter, compared to analyst estimates of $13.70 million. As a group, equities research analysts anticipate that Benitec Biopharma will post -1.02 EPS for the current year.

Hedge Funds Weigh In On Benitec Biopharma

Several institutional investors and hedge funds have recently bought and sold shares of BNTC. Simplify Asset Management Inc. raised its stake in shares of Benitec Biopharma by 271.9% during the 1st quarter. Simplify Asset Management Inc. now owns 562,242 shares of the biotechnology company’s stock worth $5,988,000 after purchasing an additional 411,079 shares in the last quarter. AWM Investment Company Inc. bought a new stake in Benitec Biopharma during the second quarter valued at about $2,515,000. MYDA Advisors LLC grew its holdings in Benitec Biopharma by 221.4% in the 4th quarter. MYDA Advisors LLC now owns 225,000 shares of the biotechnology company’s stock valued at $3,031,000 after buying an additional 155,000 shares during the last quarter. Bank of New York Mellon Corp bought a new position in Benitec Biopharma during the second quarter worth $804,000. Finally, Empery Asset Management LP acquired a new position in shares of Benitec Biopharma during the fourth quarter valued at about $747,000. Hedge funds and other institutional investors own 52.19% of the company’s stock.

About Benitec Biopharma

Benitec Biopharma Inc (NASDAQ:BNTC) is a clinical-stage biotechnology company developing genetic medicines based on DNA-directed RNA interference (ddRNAi). The company’s technology is designed to enable long-lasting suppression of disease-causing genes by delivering genetic instructions that produce RNA interference molecules within targeted cells.

Benitec’s lead product candidate is BB-301, an investigational gene therapy being developed for oculopharyngeal muscular dystrophy type 1 (OPMD), a rare inherited disorder that can cause progressive weakness of the muscles involved in swallowing and eye movement.