Benitec Biopharma (NASDAQ:BNTC) Now Covered by Analysts at Raymond James Financial

Raymond James Financial began coverage on shares of Benitec Biopharma (NASDAQ:BNTC) in a report released on Friday, MarketBeat reports. The brokerage set an “outperform” rating and a $14.00 price target on the biotechnology company’s stock. Raymond James Financial‘s price objective suggests a potential upside of 58.73% from the stock’s previous close.

BNTC has been the topic of several other research reports. Wedbush upped their price objective on Benitec Biopharma from $16.00 to $17.00 and gave the company an “outperform” rating in a research note on Tuesday, September 15th. Wall Street Zen downgraded Benitec Biopharma from a “hold” rating to a “sell” rating in a research note on Saturday, September 19th. Weiss Ratings reissued a “sell (d-)” rating on shares of Benitec Biopharma in a report on Thursday, October 15th. Citigroup restated a “market outperform” rating on shares of Benitec Biopharma in a research note on Tuesday, October 6th. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Benitec Biopharma in a report on Monday, September 28th. Eight equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $22.00.

Benitec Biopharma Price Performance

Benitec Biopharma stock opened at $8.82 on Friday. The company’s 50-day moving average is $10.90 and its 200-day moving average is $11.70. The firm has a market capitalization of $307.73 million, a PE ratio of -9.00 and a beta of 0.25. Benitec Biopharma has a fifty-two week low of $8.00 and a fifty-two week high of $16.76.

Benitec Biopharma (NASDAQ:BNTC) last issued its earnings results on Monday, September 14th. The biotechnology company reported ($0.26) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.26). As a group, analysts expect that Benitec Biopharma will post -1.31 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC raised its holdings in Benitec Biopharma by 18.7% in the 2nd quarter. GAMMA Investing LLC now owns 7,961 shares of the biotechnology company’s stock valued at $107,000 after acquiring an additional 1,256 shares during the period. Bank of America Corp DE lifted its position in Benitec Biopharma by 43.3% during the first quarter. Bank of America Corp DE now owns 17,376 shares of the biotechnology company’s stock worth $185,000 after acquiring an additional 5,251 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Benitec Biopharma by 37.6% during the first quarter. Bank of New York Mellon Corp now owns 43,489 shares of the biotechnology company’s stock worth $463,000 after acquiring an additional 11,877 shares during the last quarter. ADAR1 Capital Management LLC acquired a new stake in Benitec Biopharma during the first quarter worth approximately $186,000. Finally, AWM Investment Company Inc. acquired a new stake in Benitec Biopharma during the second quarter worth approximately $2,515,000. Institutional investors and hedge funds own 52.19% of the company’s stock.

About Benitec Biopharma

Benitec Biopharma Inc (NASDAQ:BNTC) is a clinical-stage biotechnology company developing genetic medicines based on its proprietary DNA-directed RNA interference (ddRNAi) technology. The platform is designed to enable cells to produce small hairpin RNA molecules that can selectively reduce the expression of disease-causing genes, potentially providing longer-lasting gene silencing than conventional RNA-based approaches.

The company’s lead program is BB-301, an investigational gene therapy being developed for oculopharyngeal muscular dystrophy type 1 (OPMD1), a rare inherited disorder that affects muscles involved in swallowing and movement.