Millennium Management LLC Cuts Stake in Enanta Pharmaceuticals, Inc. (NASDAQ:ENTA)

Millennium Management LLC cut its holdings in shares of Enanta Pharmaceuticals, Inc. (NASDAQ:ENTA) by 3.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 683,143 shares of the biotechnology company’s stock after selling 23,105 shares during the period. Millennium Management LLC owned 3.23% of Enanta Pharmaceuticals worth $8,860,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ENTA. Rhumbline Advisers increased its position in Enanta Pharmaceuticals by 4.7% during the 2nd quarter. Rhumbline Advisers now owns 34,566 shares of the biotechnology company’s stock valued at $448,000 after buying an additional 1,548 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of Enanta Pharmaceuticals during the second quarter worth about $35,000. State Board of Administration of Florida Retirement System acquired a new position in shares of Enanta Pharmaceuticals during the first quarter valued at about $118,000. American Century Companies Inc. raised its position in shares of Enanta Pharmaceuticals by 35.4% in the 2nd quarter. American Century Companies Inc. now owns 27,892 shares of the biotechnology company’s stock valued at $362,000 after purchasing an additional 7,287 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Enanta Pharmaceuticals by 13.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 73,841 shares of the biotechnology company’s stock valued at $958,000 after purchasing an additional 8,645 shares during the last quarter. Hedge funds and other institutional investors own 94.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ENTA. JMP Securities restated a “market outperform” rating and set a $22.00 price target on shares of Enanta Pharmaceuticals in a research note on Friday, September 27th. JPMorgan Chase & Co. cut their target price on Enanta Pharmaceuticals from $11.00 to $10.00 and set an “underweight” rating on the stock in a research report on Tuesday, August 6th. Evercore ISI upgraded Enanta Pharmaceuticals to a “strong-buy” rating in a research note on Tuesday, August 6th. Finally, HC Wainwright reiterated a “buy” rating and set a $27.00 price target on shares of Enanta Pharmaceuticals in a research note on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Enanta Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $20.00.

Enanta Pharmaceuticals Price Performance

ENTA stock opened at $11.00 on Wednesday. The company has a market capitalization of $232.97 million, a P/E ratio of -1.76 and a beta of 0.58. Enanta Pharmaceuticals, Inc. has a 12 month low of $8.08 and a 12 month high of $17.80. The firm’s fifty day simple moving average is $12.22 and its 200-day simple moving average is $13.31.

Enanta Pharmaceuticals (NASDAQ:ENTA) last posted its quarterly earnings results on Monday, August 5th. The biotechnology company reported ($1.07) EPS for the quarter, beating the consensus estimate of ($1.43) by $0.36. The company had revenue of $17.97 million for the quarter, compared to analyst estimates of $17.44 million. Enanta Pharmaceuticals had a negative net margin of 160.27% and a negative return on equity of 63.75%. The firm’s revenue was down 4.9% on a year-over-year basis. During the same period in the prior year, the company earned ($1.27) earnings per share. As a group, sell-side analysts forecast that Enanta Pharmaceuticals, Inc. will post -5.3 earnings per share for the current year.

Insider Transactions at Enanta Pharmaceuticals

In related news, insider Scott T. Rottinghaus sold 5,375 shares of Enanta Pharmaceuticals stock in a transaction that occurred 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 in the company, valued at approximately $370,926.36. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Scott T. Rottinghaus sold 4,299 shares of the stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $15.07, for a total transaction of $64,785.93. Following the sale, the insider now directly owns 23,988 shares of the company’s stock, valued at $361,499.16. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Scott T. Rottinghaus sold 5,375 shares of the firm’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $17.08, for a total value of $91,805.00. Following the sale, the insider now owns 21,717 shares in the company, valued at $370,926.36. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 13.64% of the company’s stock.

Enanta Pharmaceuticals 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.