Brokerages Set Benitec Biopharma Limited (NASDAQ:BNTC) Target Price at $24.80

Shares of Benitec Biopharma Limited (NASDAQ:BNTC) have been assigned a consensus rating of “Moderate Buy” from the ten analysts that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $24.80.

BNTC has been the topic of several research reports. Guggenheim cut Benitec Biopharma from a “buy” rating to a “neutral” rating in a report on Wednesday, June 10th. Wall Street Zen raised Benitec Biopharma from a “sell” rating to a “hold” rating in a research note on Saturday, August 1st. Evercore began coverage on Benitec Biopharma in a report on Tuesday, May 12th. They issued an “outperform” rating and a $25.00 target price on the stock. Wedbush assumed coverage on Benitec Biopharma in a research report on Tuesday, July 28th. They set an “outperform” rating and a $16.00 target price on the stock. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Benitec Biopharma in a report on Friday, July 17th.

Benitec Biopharma Price Performance

NASDAQ BNTC opened at $12.71 on Friday. The company’s 50 day simple moving average is $12.65 and its 200 day simple moving average is $11.90. Benitec Biopharma has a 12 month low of $9.85 and a 12 month high of $16.76. The company has a market capitalization of $436.59 million, a P/E ratio of -11.15 and a beta of 0.28.

Institutional Trading of Benitec Biopharma

Several institutional investors and hedge funds have recently bought and sold shares of BNTC. BNP Paribas Financial Markets lifted its stake in Benitec Biopharma by 44.5% during the third quarter. BNP Paribas Financial Markets now owns 2,937 shares of the biotechnology company’s stock valued at $41,000 after buying an additional 904 shares in the last quarter. California State Teachers Retirement System increased its position in shares of Benitec Biopharma by 241.4% in the second quarter. California State Teachers Retirement System now owns 3,639 shares of the biotechnology company’s stock worth $49,000 after acquiring an additional 2,573 shares in the last quarter. Truvestments Capital LLC increased its position in shares of Benitec Biopharma by 156.5% in the fourth quarter. Truvestments Capital LLC now owns 3,834 shares of the biotechnology company’s stock worth $52,000 after acquiring an additional 2,339 shares in the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of Benitec Biopharma during the third quarter valued at approximately $79,000. Finally, JPMorgan Chase & Co. acquired a new stake in shares of Benitec Biopharma during the second quarter valued at approximately $80,000. Institutional investors and hedge funds own 52.19% of the company’s stock.

About Benitec Biopharma

Benitec Biopharma Ltd (NASDAQ: BNTC) is a clinical-stage biotechnology company developing gene-silencing therapies for serious human diseases. The company’s proprietary DNA-directed RNA interference (ddRNAi) platform is designed to enable sustained expression of small RNA molecules that specifically target and silence disease-causing genes. By integrating RNAi sequences directly into DNA constructs, ddRNAi aims to provide a long-term therapeutic effect from a single administration.

Benitec’s lead programs include development of ddRNAi candidates for chronic hepatitis B virus infection and for certain ocular conditions.