Benitec Biopharma Inc. (NASDAQ:BNTC) Receives Consensus Recommendation of “Buy” from Brokerages

Benitec Biopharma Inc. (NASDAQ:BNTC) has received a consensus recommendation of “Buy” from the six research firms that are covering the company, MarketBeat.com reports. Five investment analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $22.60.

A number of equities research analysts have recently weighed in on the company. Guggenheim initiated coverage on Benitec Biopharma in a research note on Thursday, September 12th. They issued a “buy” rating and a $17.00 target price for the company. JMP Securities increased their price objective on Benitec Biopharma from $16.00 to $18.00 and gave the company a “market outperform” rating in a research note on Monday, October 14th. Leerink Partnrs upgraded shares of Benitec Biopharma to a “strong-buy” rating in a report on Monday, July 22nd. Oppenheimer began coverage on shares of Benitec Biopharma in a report on Wednesday, October 16th. They set an “outperform” rating and a $35.00 price target for the company. Finally, Leerink Partners started coverage on shares of Benitec Biopharma in a report on Monday, July 22nd. They issued an “outperform” rating and a $13.00 price target on the stock.

Institutional Trading of Benitec Biopharma

Several large investors have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC raised its holdings in Benitec Biopharma by 35.5% in the 1st quarter. Janus Henderson Group PLC now owns 244,491 shares of the biotechnology company’s stock worth $1,266,000 after purchasing an additional 64,092 shares in the last quarter. GAMMA Investing LLC raised its stake in Benitec Biopharma by 53.0% in the second quarter. GAMMA Investing LLC now owns 5,438 shares of the biotechnology company’s stock worth $38,000 after buying an additional 1,884 shares in the last quarter. Simplify Asset Management Inc. purchased a new stake in Benitec Biopharma in the second quarter worth about $358,000. Nantahala Capital Management LLC bought a new stake in Benitec Biopharma during the 2nd quarter valued at approximately $5,881,000. Finally, Acuta Capital Partners LLC purchased a new position in shares of Benitec Biopharma during the 3rd quarter worth approximately $274,000. Institutional investors own 52.19% of the company’s stock.

Benitec Biopharma Price Performance

Benitec Biopharma stock opened at $10.68 on Friday. The firm has a fifty day simple moving average of $9.91 and a two-hundred day simple moving average of $9.05. Benitec Biopharma has a twelve month low of $2.69 and a twelve month high of $12.89.

About Benitec Biopharma

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.