Benitec Biopharma Limited (NASDAQ:BNTC) Stock Now Rated “Moderate Buy” by Wall Street Brokerages

Shares of Benitec Biopharma Limited (NASDAQ:BNTC) have been given a consensus rating of “Moderate Buy” by the ten brokerages that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $24.00.

BNTC has been the subject of a number of recent research reports. Citigroup reiterated a “market outperform” rating on shares of Benitec Biopharma in a report on Tuesday, October 6th. Royal Bank Of Canada upgraded Benitec Biopharma to an “outperform” rating in a report on Tuesday, September 15th. Wedbush raised their target price on Benitec Biopharma from $16.00 to $17.00 and gave the company an “outperform” rating in a report on Tuesday, September 15th. HC Wainwright reaffirmed a “buy” rating on shares of Benitec Biopharma in a research report on Monday, September 28th. Finally, Wall Street Zen cut Benitec Biopharma from a “hold” rating to a “sell” rating in a research report on Saturday, September 19th.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Simplify Asset Management Inc. lifted its holdings in Benitec Biopharma by 271.9% in 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 during the last quarter. MYDA Advisors LLC boosted its position in Benitec Biopharma by 221.4% during the fourth quarter. MYDA Advisors LLC now owns 225,000 shares of the biotechnology company’s stock worth $3,031,000 after purchasing an additional 155,000 shares during the period. AWM Investment Company Inc. acquired a new position in Benitec Biopharma during the second quarter valued at approximately $2,515,000. Bank of New York Mellon Corp acquired a new position in Benitec Biopharma during the second quarter valued at approximately $804,000. Finally, ADAR1 Capital Management LLC bought a new position in shares of Benitec Biopharma in the first quarter valued at approximately $186,000. 52.19% of the stock is owned by institutional investors.

Benitec Biopharma Stock Down 4.1%

BNTC stock opened at $8.11 on Friday. The firm has a 50 day moving average of $11.24 and a two-hundred day moving average of $11.75. Benitec Biopharma has a 12 month low of $8.06 and a 12 month high of $16.76. The company has a market capitalization of $282.90 million, a price-to-earnings ratio of -8.28 and a beta of 0.25.

Benitec Biopharma (NASDAQ:BNTC) last released 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). On average, research analysts expect that Benitec Biopharma will post -1.31 EPS for the current fiscal year.

Benitec Biopharma Company Profile

Benitec Biopharma Limited (NASDAQ:BNTC) is a clinical-stage biotechnology company developing genetic medicines for chronic and potentially life-threatening diseases. The company’s work is based on DNA-directed RNA interference (ddRNAi), a gene-silencing technology designed to produce sustained suppression of disease-causing genes within targeted cells.

Benitec’s lead investigational product is BB-301, an adeno-associated virus gene therapy being developed for oculopharyngeal muscular dystrophy (OPMD), a rare inherited disorder that can cause progressive difficulty swallowing and weakness of the eyelid and throat muscles.