Benitec Biopharma Inc. (NASDAQ:BNTC) Given Average Rating of “Buy” by Analysts

Benitec Biopharma Inc. (NASDAQ:BNTC) has been given an average recommendation of “Buy” by the six ratings firms that are currently covering the firm, Marketbeat reports. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $22.60.

BNTC has been the subject of a number of research reports. JMP Securities boosted their target price on shares of 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 Partners began coverage on Benitec Biopharma in a research report on Monday, July 22nd. They issued an “outperform” rating and a $13.00 target price on the stock. Oppenheimer began coverage on shares of Benitec Biopharma in a research report on Wednesday, October 16th. They set an “outperform” rating and a $35.00 price target for the company. Guggenheim began coverage on shares of Benitec Biopharma in a research report on Thursday, September 12th. They issued a “buy” rating and a $17.00 price target on the stock. Finally, Leerink Partnrs raised shares of Benitec Biopharma to a “strong-buy” rating in a research report on Monday, July 22nd.

Benitec Biopharma Trading Down 0.4 %

Shares of BNTC stock opened at $10.40 on Friday. The company has a 50 day moving average price of $9.88 and a 200-day moving average price of $9.02. Benitec Biopharma has a 52 week low of $2.69 and a 52 week high of $12.89.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Suvretta Capital Management LLC lifted its holdings in Benitec Biopharma by 422.0% in the 3rd quarter. Suvretta Capital Management LLC now owns 8,829,053 shares of the biotechnology company’s stock worth $81,139,000 after purchasing an additional 7,137,763 shares in the last quarter. Nantahala Capital Management LLC bought a new stake in shares of Benitec Biopharma during the second quarter valued at approximately $5,881,000. Simplify Asset Management Inc. lifted its holdings in shares of Benitec Biopharma by 127.5% in the third quarter. Simplify Asset Management Inc. now owns 116,535 shares of the biotechnology company’s stock worth $1,071,000 after buying an additional 65,319 shares in the last quarter. Janus Henderson Group PLC boosted its position in shares of Benitec Biopharma by 35.5% during the first quarter. Janus Henderson Group PLC now owns 244,491 shares of the biotechnology company’s stock worth $1,266,000 after acquiring an additional 64,092 shares during the last quarter. Finally, Acuta Capital Partners LLC bought a new position in shares of Benitec Biopharma during the third quarter worth $274,000. Hedge funds and other institutional investors own 52.19% of the company’s stock.

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.