Enanta Pharmaceuticals’ (ENTA) Market Outperform Rating Reaffirmed at JMP Securities

JMP Securities reaffirmed their market outperform rating on shares of Enanta Pharmaceuticals (NASDAQ:ENTA) in a research report released on Wednesday, Benzinga reports. JMP Securities currently has a $22.00 price target on the biotechnology company’s stock.

ENTA has been the subject of a number of other research reports. Evercore ISI upgraded shares of Enanta Pharmaceuticals to a strong-buy rating in a research report on Tuesday, August 6th. JPMorgan Chase & Co. reduced their price target on Enanta Pharmaceuticals from $11.00 to $10.00 and set an underweight rating for the company in a report on Tuesday, August 6th. Finally, HC Wainwright reaffirmed a buy rating and set a $27.00 price objective on shares of Enanta Pharmaceuticals in a report on Tuesday, August 6th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Enanta Pharmaceuticals currently has a consensus rating of Moderate Buy and a consensus price target of $20.00.

Enanta Pharmaceuticals Trading Down 2.6 %

NASDAQ:ENTA opened at $10.71 on Wednesday. The stock’s 50 day simple moving average is $12.14 and its 200-day simple moving average is $13.28. Enanta Pharmaceuticals has a 12-month low of $8.08 and a 12-month high of $17.80. The firm has a market cap of $226.83 million, a P/E ratio of -1.72 and a beta of 0.58.

Enanta Pharmaceuticals (NASDAQ:ENTA) last announced its quarterly earnings data on Monday, August 5th. The biotechnology company reported ($1.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.43) by $0.36. Enanta Pharmaceuticals had a negative net margin of 160.27% and a negative return on equity of 63.75%. The company had revenue of $17.97 million for the quarter, compared to analysts’ expectations of $17.44 million. During the same period in the previous year, the company posted ($1.27) EPS. Enanta Pharmaceuticals’s revenue was down 4.9% compared to the same quarter last year. Research analysts forecast that Enanta Pharmaceuticals will post -5.3 EPS for the current fiscal year.

Insider Transactions at Enanta Pharmaceuticals

In related news, insider Scott T. Rottinghaus sold 5,375 shares of Enanta Pharmaceuticals stock in a transaction on Monday, July 15th. The stock was sold at an average price of $17.08, for a total transaction of $91,805.00. Following the completion of the transaction, the insider now directly owns 21,717 shares of the company’s stock, valued at approximately $370,926.36. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 13.64% of the company’s stock.

Hedge Funds Weigh In On Enanta Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ENTA. Vanguard Group Inc. raised its position in shares of Enanta Pharmaceuticals by 7.5% during the 1st quarter. Vanguard Group Inc. now owns 1,928,078 shares of the biotechnology company’s stock worth $33,664,000 after purchasing an additional 134,292 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Enanta Pharmaceuticals by 35.4% in the second quarter. American Century Companies Inc. now owns 27,892 shares of the biotechnology company’s stock worth $362,000 after acquiring an additional 7,287 shares during the last quarter. Rhumbline Advisers lifted its position in shares of Enanta Pharmaceuticals by 4.7% in the second quarter. Rhumbline Advisers now owns 34,566 shares of the biotechnology company’s stock valued at $448,000 after acquiring an additional 1,548 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Enanta Pharmaceuticals by 13.3% during the second quarter. Bank of New York Mellon Corp now owns 73,841 shares of the biotechnology company’s stock valued at $958,000 after acquiring an additional 8,645 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new stake in Enanta Pharmaceuticals during the 2nd quarter worth about $35,000. Institutional investors and hedge funds own 94.99% of the company’s stock.

Enanta Pharmaceuticals Company Profile

Enanta Pharmaceuticals, Inc, a biotechnology company, discovers and develops small molecule drugs for the treatment of viral infections and liver diseases. Its product pipeline comprises EDP-514, which is in phase 1b clinical development for the treatment of chronic infection with hepatitis B virus or HBV; EDP-938 and EDP-323, which is in phase II clinical development for the treatment of respiratory syncytial virus; EDP-235, which is in phase II clinical development for the treatment of human coronaviruses; and Glecaprevir, which is in the market for the treatment of chronic infection with hepatitis C virus or HCV.