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

Benitec Biopharma (NASDAQ:BNTCGet Free Report) announced its earnings results on Thursday. The biotechnology company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.03, FiscalAI reports.

Benitec Biopharma Trading Up 1.7%

Shares of BNTC traded up $0.20 during trading hours on Thursday, reaching $11.85. 64,011 shares of the company traded hands, compared to its average volume of 105,934. The stock’s fifty day moving average price is $11.83 and its 200 day moving average price is $12.31. The firm has a market cap of $407.05 million, a price-to-earnings ratio of -10.39 and a beta of 0.28. Benitec Biopharma has a 12-month low of $9.85 and a 12-month high of $17.15.

Hedge Funds Weigh In On Benitec Biopharma

Several institutional investors have recently made changes to their positions in BNTC. Goldman Sachs Group Inc. bought a new position in Benitec Biopharma in the first quarter worth approximately $597,000. Geode Capital Management LLC boosted its stake in Benitec Biopharma by 77.6% in the second quarter. Geode Capital Management LLC now owns 415,211 shares of the biotechnology company’s stock valued at $4,859,000 after acquiring an additional 181,391 shares in the last quarter. JPMorgan Chase & Co. purchased a new position in Benitec Biopharma in the second quarter worth $80,000. Rhumbline Advisers grew its holdings in Benitec Biopharma by 11,114.0% in the second quarter. Rhumbline Advisers now owns 20,858 shares of the biotechnology company’s stock worth $244,000 after purchasing an additional 20,672 shares during the last quarter. Finally, XTX Topco Ltd acquired a new position in shares of Benitec Biopharma during the second quarter worth $127,000. Hedge funds and other institutional investors own 52.19% of the company’s stock.

Wall Street Analyst Weigh In

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

View Our Latest Report on BNTC

About Benitec Biopharma

(Get Free Report)

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.

Featured Stories

Earnings History for Benitec Biopharma (NASDAQ:BNTC)

Receive News & Ratings for Benitec Biopharma Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Benitec Biopharma and related companies with MarketBeat.com's FREE daily email newsletter.