Analysts Set Benitec Biopharma Inc. (NASDAQ:BNTC) Target Price at $24.43

Benitec Biopharma Inc. (NASDAQ:BNTC) has earned a consensus rating of “Buy” from the nine brokerages that are covering the stock, MarketBeat.com 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 target price among brokerages that have updated their coverage on the stock in the last year is $24.43.

Several research firms recently weighed in on BNTC. JMP Securities lifted their price target on shares of Benitec Biopharma from $16.00 to $18.00 and gave the company a “market outperform” rating in a report on Monday, October 14th. Baird R W raised shares of Benitec Biopharma to a “strong-buy” rating in a research note on Thursday, December 12th. HC Wainwright initiated coverage on shares of Benitec Biopharma in a research report on Monday, December 16th. They set a “buy” rating and a $28.00 price target on the stock. Robert W. Baird initiated coverage on shares of Benitec Biopharma in a report on Friday, December 13th. They issued an “outperform” rating and a $30.00 price objective for the company. Finally, Guggenheim reiterated a “buy” rating and set a $17.00 target price on shares of Benitec Biopharma in a report on Tuesday, December 3rd.

Insider Buying and Selling at Benitec Biopharma

In other news, Director Suvretta Capital Management, L acquired 27,502 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The shares were bought at an average cost of $10.98 per share, with a total value of $301,971.96. Following the transaction, the director now owns 7,981,725 shares of the company’s stock, valued at $87,639,340.50. This trade represents a 0.35 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. GAMMA Investing LLC grew its stake in shares of Benitec Biopharma by 20.3% in the third quarter. GAMMA Investing LLC now owns 6,540 shares of the biotechnology company’s stock worth $60,000 after acquiring an additional 1,102 shares during the period. Acuta Capital Partners LLC bought a new stake in Benitec Biopharma in the 3rd quarter worth approximately $274,000. Simplify Asset Management Inc. purchased a new stake in Benitec Biopharma during the 2nd quarter valued at $358,000. Geode Capital Management LLC lifted its holdings in shares of Benitec Biopharma by 31.3% during the 3rd quarter. Geode Capital Management LLC now owns 83,987 shares of the biotechnology company’s stock valued at $772,000 after buying an additional 20,012 shares during the period. Finally, Nantahala Capital Management LLC purchased a new position in shares of Benitec Biopharma in the 2nd quarter worth $5,881,000. 52.19% of the stock is owned by institutional investors.

Benitec Biopharma Stock Performance

Shares of BNTC stock opened at $12.10 on Monday. Benitec Biopharma has a fifty-two week low of $2.69 and a fifty-two week high of $13.29. The firm has a market cap of $280.91 million, a P/E ratio of -4.26 and a beta of 0.82. The business’s 50 day moving average price is $11.05 and its 200-day moving average price is $9.78.

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.