Benitec Biopharma (NASDAQ:BNTC) Issues Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Benitec Biopharma (NASDAQ:BNTC) announced its quarterly earnings data on Thursday. The biotechnology company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.03, FiscalAI reports.

Benitec Biopharma Stock Performance

Benitec Biopharma stock traded up $0.20 during midday trading on Thursday, reaching $11.85. 64,011 shares of the stock were exchanged, compared to its average volume of 144,312. Benitec Biopharma has a 52 week low of $9.85 and a 52 week high of $17.15. The firm has a market cap of $407.09 million, a PE ratio of -10.39 and a beta of 0.28. The company’s fifty day moving average is $11.81 and its 200-day moving average is $12.34.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on BNTC shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Benitec Biopharma in a research note on Monday, April 20th. TD Cowen reaffirmed a “buy” rating on shares of Benitec Biopharma in a report on Monday, March 9th. HC Wainwright reiterated a “buy” rating and issued a $32.00 price objective on shares of Benitec Biopharma in a research note on Monday, March 9th. Evercore started coverage on shares of Benitec Biopharma in a report on Tuesday. They set an “outperform” rating and a $25.00 target price on the stock. Finally, Wall Street Zen downgraded Benitec Biopharma from a “hold” rating to a “sell” rating in a research report on Saturday, February 14th. Six equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $27.00.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in BNTC. BNP Paribas Financial Markets raised its position in shares of Benitec Biopharma by 44.5% in the third quarter. BNP Paribas Financial Markets now owns 2,937 shares of the biotechnology company’s stock worth $41,000 after buying an additional 904 shares in the last quarter. Truvestments Capital LLC grew its position in Benitec Biopharma by 156.5% during the fourth quarter. Truvestments Capital LLC now owns 3,834 shares of the biotechnology company’s stock worth $52,000 after buying an additional 2,339 shares in the last quarter. Russell Investments Group Ltd. bought a new position in Benitec Biopharma in the 3rd quarter worth about $79,000. JPMorgan Chase & Co. bought a new position in Benitec Biopharma in the 2nd quarter worth about $80,000. Finally, Bank of America Corp DE raised its holdings in shares of Benitec Biopharma by 2,255.8% in the 2nd quarter. Bank of America Corp DE now owns 6,879 shares of the biotechnology company’s stock valued at $80,000 after acquiring an additional 6,587 shares in the last quarter. Institutional investors own 52.19% of the company’s stock.

Benitec Biopharma Company Profile

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.