Enanta Pharmaceuticals (NASDAQ:ENTA) Receives Market Outperform Rating from JMP Securities

Enanta Pharmaceuticals (NASDAQ:ENTA)‘s stock had its “market outperform” rating reiterated by equities researchers at JMP Securities in a research note issued on Wednesday, Benzinga reports. They presently have a $22.00 price target on the biotechnology company’s stock. JMP Securities’ price objective indicates a potential upside of 106.19% from the stock’s current price.

A number of other analysts have also commented on the stock. HC Wainwright reissued a “buy” rating and issued a $27.00 price objective on shares of Enanta Pharmaceuticals in a research report on Tuesday, August 6th. Evercore ISI raised shares of Enanta Pharmaceuticals to a “strong-buy” rating in a research report on Tuesday, August 6th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Enanta Pharmaceuticals from $11.00 to $10.00 and set an “underweight” rating on the stock in a research report on Tuesday, August 6th. One analyst has rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Enanta Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus target price of $20.00.

Enanta Pharmaceuticals Stock Down 3.0 %

Enanta Pharmaceuticals stock traded down $0.33 during midday trading on Wednesday, hitting $10.67. 92,190 shares of the stock were exchanged, compared to its average volume of 207,592. The company has a fifty day simple moving average of $12.14 and a two-hundred day simple moving average of $13.28. Enanta Pharmaceuticals has a 52 week low of $8.08 and a 52 week high of $17.80. The stock has a market capitalization of $225.98 million, a PE ratio of -1.71 and a beta of 0.58.

Enanta Pharmaceuticals (NASDAQ:ENTA) last announced its quarterly earnings results on Monday, August 5th. The biotechnology company reported ($1.07) earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $17.97 million for the quarter, compared to analyst estimates of $17.44 million. During the same quarter in the previous year, the firm posted ($1.27) earnings per share. The business’s revenue was down 4.9% on a year-over-year basis. As a group, equities research analysts anticipate that Enanta Pharmaceuticals will post -5.3 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Scott T. Rottinghaus sold 4,299 shares of the business’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $15.07, for a total transaction of $64,785.93. Following the transaction, the insider now directly owns 23,988 shares in the company, valued at approximately $361,499.16. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Scott T. Rottinghaus sold 4,299 shares of the business’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $15.07, for a total transaction of $64,785.93. Following the transaction, the insider now directly owns 23,988 shares in the company, valued at approximately $361,499.16. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Scott T. Rottinghaus sold 5,375 shares of the company’s stock in a transaction on Monday, July 15th. The shares were 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 owns 21,717 shares in the company, valued at approximately $370,926.36. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 13.64% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Enanta Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of ENTA. Vanguard Group Inc. increased its holdings in shares of Enanta Pharmaceuticals by 7.5% in the first quarter. Vanguard Group Inc. now owns 1,928,078 shares of the biotechnology company’s stock valued at $33,664,000 after purchasing an additional 134,292 shares during the last quarter. Farallon Capital Management LLC increased its holdings in shares of Enanta Pharmaceuticals by 3.5% in the first quarter. Farallon Capital Management LLC now owns 2,095,000 shares of the biotechnology company’s stock valued at $36,579,000 after purchasing an additional 70,000 shares during the last quarter. Cubist Systematic Strategies LLC increased its holdings in shares of Enanta Pharmaceuticals by 65.8% in the second quarter. Cubist Systematic Strategies LLC now owns 45,350 shares of the biotechnology company’s stock valued at $588,000 after purchasing an additional 18,003 shares during the last quarter. Acadian Asset Management LLC grew its stake in shares of Enanta Pharmaceuticals by 1.3% in the first quarter. Acadian Asset Management LLC now owns 853,896 shares of the biotechnology company’s stock valued at $14,906,000 after acquiring an additional 10,952 shares in the last quarter. Finally, Virtu Financial LLC acquired a new position in shares of Enanta Pharmaceuticals in the first quarter valued at about $191,000. 94.99% of the stock is currently owned by institutional investors and hedge funds.

About Enanta Pharmaceuticals

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.