Benitec Biopharma (NASDAQ:BNTC) Issues Earnings Results, Beats Estimates By $0.19 EPS

Benitec Biopharma (NASDAQ:BNTC) posted its quarterly earnings results on Friday. The biotechnology company reported ($0.36) EPS for the quarter, beating the consensus estimate of ($0.55) by $0.19, Zacks reports.

Benitec Biopharma Trading Up 13.1 %

BNTC stock traded up $1.28 during midday trading on Friday, reaching $10.98. The stock had a trading volume of 28,894 shares, compared to its average volume of 31,499. Benitec Biopharma has a 52-week low of $2.75 and a 52-week high of $13.29. The company’s fifty day simple moving average is $11.38 and its 200 day simple moving average is $10.21.

Insider Transactions at Benitec Biopharma

In other Benitec Biopharma news, Director Suvretta Capital Management, L purchased 27,502 shares of the stock in a transaction that occurred on Monday, December 23rd. The shares were purchased at an average cost of $10.98 per share, for a total transaction of $301,971.96. Following the completion of the transaction, the director now owns 7,981,725 shares of the company’s stock, valued at $87,639,340.50. The trade was a 0.35 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Piper Sandler reissued an “overweight” rating on shares of Benitec Biopharma in a report on Friday, October 18th. Robert W. Baird assumed coverage on Benitec Biopharma in a report on Friday, December 13th. They issued an “outperform” rating and a $30.00 price target for the company. Baird R W raised shares of Benitec Biopharma to a “strong-buy” rating in a research note on Thursday, December 12th. HC Wainwright initiated coverage on shares of Benitec Biopharma in a research note on Monday, December 16th. They issued a “buy” rating and a $28.00 target price for the company. Finally, Guggenheim restated a “buy” rating and set a $17.00 price target on shares of Benitec Biopharma in a research report on Tuesday, December 3rd. Seven research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $24.43.

Benitec Biopharma Company Profile

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.