Enanta Pharmaceuticals (NASDAQ:ENTA) Issues Quarterly Earnings Results, Beats Expectations By $0.26 EPS

Enanta Pharmaceuticals (NASDAQ:ENTA) issued its earnings results on Monday. The biotechnology company reported ($0.87) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.13) by $0.26, Zacks reports. Enanta Pharmaceuticals had a negative net margin of 141.98% and a negative return on equity of 89.02%.

Enanta Pharmaceuticals Trading Up 6.3%

ENTA stock traded up $0.76 during trading on Monday, reaching $12.82. The stock had a trading volume of 406,829 shares, compared to its average volume of 404,509. Enanta Pharmaceuticals has a 1-year low of $4.09 and a 1-year high of $15.34. The company has a market capitalization of $274.07 million, a P/E ratio of -2.97 and a beta of 0.88. The firm has a fifty day moving average price of $10.23 and a 200 day moving average price of $8.24.

Wall Street Analysts Forecast Growth

Several analysts have commented on ENTA shares. Evercore ISI reduced their price objective on Enanta Pharmaceuticals from $20.00 to $12.00 and set an “outperform” rating for the company in a research note on Monday, September 15th. HC Wainwright started coverage on Enanta Pharmaceuticals in a research note on Monday, July 28th. They issued a “buy” rating and a $20.00 price target on the stock. Westpark Capital raised their target price on Enanta Pharmaceuticals from $24.00 to $28.00 and gave the company a “buy” rating in a report on Tuesday, September 30th. JMP Securities raised their price objective on shares of Enanta Pharmaceuticals from $24.00 to $25.00 and gave the company a “market outperform” rating in a research note on Tuesday, August 12th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Enanta Pharmaceuticals in a research note on Wednesday, October 8th. Seven research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $20.29.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Quarry LP bought a new stake in shares of Enanta Pharmaceuticals in the 3rd quarter valued at approximately $81,000. Public Employees Retirement System of Ohio boosted its holdings in shares of Enanta Pharmaceuticals by 8.3% during the third quarter. Public Employees Retirement System of Ohio now owns 14,412 shares of the biotechnology company’s stock valued at $173,000 after acquiring an additional 1,100 shares during the period. Algert Global LLC acquired a new stake in shares of Enanta Pharmaceuticals in the third quarter valued at approximately $133,000. Ameriprise Financial Inc. increased its position in Enanta Pharmaceuticals by 8.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 18,007 shares of the biotechnology company’s stock valued at $216,000 after acquiring an additional 1,383 shares during the period. Finally, Man Group plc bought a new stake in shares of Enanta Pharmaceuticals during the third quarter valued at about $481,000. 94.99% of the stock is owned by institutional investors and hedge funds.

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.