Benitec Biopharma (NASDAQ:BNTC) Now Covered by Oppenheimer

Equities researchers at Oppenheimer assumed coverage on shares of Benitec Biopharma (NASDAQ:BNTC) in a research report issued to clients and investors on Wednesday, Briefing.com reports. The firm set an “outperform” rating and a $35.00 price target on the biotechnology company’s stock. Oppenheimer’s price target would indicate a potential upside of 256.78% from the company’s previous close.

A number of other brokerages have also recently commented on BNTC. JMP Securities raised their price objective on shares of Benitec Biopharma from $16.00 to $18.00 and gave the stock a “market outperform” rating in a research note on Monday. Leerink Partnrs upgraded shares of Benitec Biopharma to a “strong-buy” rating in a research report on Monday, July 22nd. Guggenheim initiated coverage on shares of Benitec Biopharma in a research report on Thursday, September 12th. They issued a “buy” rating and a $17.00 price objective for the company. Finally, Leerink Partners initiated coverage on shares of Benitec Biopharma in a research note on Monday, July 22nd. They set an “outperform” rating and a $13.00 target price on the stock. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $22.60.

Benitec Biopharma Stock Down 3.4 %

Shares of BNTC opened at $9.81 on Wednesday. The company has a market capitalization of $91.90 million, a price-to-earnings ratio of -5.14 and a beta of 0.90. Benitec Biopharma has a 52 week low of $2.69 and a 52 week high of $12.89. The stock’s 50-day moving average price is $9.11 and its 200-day moving average price is $8.32.

Hedge Funds Weigh In On Benitec Biopharma

A number of hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC increased its position in Benitec Biopharma by 20.3% during the third quarter. GAMMA Investing LLC now owns 6,540 shares of the biotechnology company’s stock worth $60,000 after purchasing an additional 1,102 shares during the last quarter. Nantahala Capital Management LLC acquired a new stake in shares of Benitec Biopharma during the 2nd quarter worth approximately $5,881,000. Simplify Asset Management Inc. purchased a new stake in shares of Benitec Biopharma during the 2nd quarter valued at approximately $358,000. Finally, Janus Henderson Group PLC lifted its holdings in Benitec Biopharma by 35.5% in the first quarter. Janus Henderson Group PLC now owns 244,491 shares of the biotechnology company’s stock valued at $1,266,000 after acquiring an additional 64,092 shares during the last quarter. Institutional investors and hedge funds 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.