JMP Securities Raises Benitec Biopharma (NASDAQ:BNTC) Price Target to $16.00

Benitec Biopharma (NASDAQ:BNTC) had its price objective increased by equities researchers at JMP Securities from $10.00 to $16.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has a “market outperform” rating on the biotechnology company’s stock. JMP Securities’ price objective would indicate a potential upside of 133.24% from the stock’s previous close.

Benitec Biopharma Stock Up 2.1 %

Shares of NASDAQ BNTC opened at $6.86 on Monday. Benitec Biopharma has a one year low of $1.86 and a one year high of $9.01. The company’s fifty day moving average is $4.99 and its two-hundred day moving average is $3.85. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.62 and a current ratio of 3.62.

Benitec Biopharma (NASDAQ:BNTC) last issued its earnings results on Tuesday, February 13th. The biotechnology company reported ($2.64) EPS for the quarter.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Benitec Biopharma stock. Adage Capital Partners GP L.L.C. purchased a new position in shares of Benitec Biopharma Inc. (NASDAQ:BNTC) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 189,188 shares of the biotechnology company’s stock, valued at approximately $572,000. Adage Capital Partners GP L.L.C. owned about 7.42% of Benitec Biopharma as of its most recent SEC filing. Institutional investors 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.