Enanta Pharmaceuticals (NASDAQ:ENTA) Issues Quarterly Earnings Results

Enanta Pharmaceuticals (NASDAQ:ENTAGet Rating) released its quarterly earnings data on Monday. The biotechnology company reported ($1.27) EPS for the quarter, beating the consensus estimate of ($1.37) by $0.10, MarketWatch Earnings reports. Enanta Pharmaceuticals had a negative return on equity of 32.42% and a negative net margin of 134.21%. The company had revenue of $20.32 million for the quarter, compared to analyst estimates of $22.86 million. During the same period last year, the company posted ($1.22) earnings per share. The firm’s revenue was down 13.8% compared to the same quarter last year.

Enanta Pharmaceuticals Price Performance

NASDAQ:ENTA traded down $0.42 during mid-day trading on Monday, reaching $46.40. The stock had a trading volume of 126,130 shares, compared to its average volume of 229,595. The company has a market capitalization of $961.64 million, a price-to-earnings ratio of -7.92 and a beta of 0.53. Enanta Pharmaceuticals has a 1-year low of $37.59 and a 1-year high of $92.90. The stock’s 50 day simple moving average is $48.58 and its two-hundred day simple moving average is $51.34.

Hedge Funds Weigh In On Enanta Pharmaceuticals

A number of hedge funds have recently bought and sold shares of the company. BNP Paribas Arbitrage SNC grew its stake in Enanta Pharmaceuticals by 325.0% in the third quarter. BNP Paribas Arbitrage SNC now owns 26,361 shares of the biotechnology company’s stock worth $1,367,000 after purchasing an additional 20,158 shares in the last quarter. Public Employees Retirement System of Ohio grew its stake in Enanta Pharmaceuticals by 388.4% in the third quarter. Public Employees Retirement System of Ohio now owns 31,735 shares of the biotechnology company’s stock worth $1,646,000 after purchasing an additional 25,237 shares in the last quarter. Thrivent Financial for Lutherans boosted its stake in Enanta Pharmaceuticals by 11.2% in the third quarter. Thrivent Financial for Lutherans now owns 20,138 shares of the biotechnology company’s stock valued at $1,045,000 after acquiring an additional 2,027 shares during the period. Two Sigma Investments LP boosted its stake in Enanta Pharmaceuticals by 4.4% in the third quarter. Two Sigma Investments LP now owns 14,192 shares of the biotechnology company’s stock valued at $736,000 after acquiring an additional 601 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its stake in Enanta Pharmaceuticals by 27.8% in the third quarter. Price T Rowe Associates Inc. MD now owns 240,687 shares of the biotechnology company’s stock valued at $12,485,000 after acquiring an additional 52,344 shares during the period. 97.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have commented on ENTA. StockNews.com assumed coverage on Enanta Pharmaceuticals in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock. SVB Leerink lifted their target price on Enanta Pharmaceuticals from $44.00 to $50.00 and gave the stock a “market perform” rating in a research report on Monday, August 1st. JMP Securities lifted their target price on Enanta Pharmaceuticals from $103.00 to $137.00 and gave the stock a “market outperform” rating in a research report on Tuesday, August 9th. Oppenheimer lifted their target price on Enanta Pharmaceuticals from $53.00 to $59.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 10th. Finally, Royal Bank of Canada dropped their target price on Enanta Pharmaceuticals from $67.00 to $66.00 and set a “sector perform” rating on the stock in a research report on Tuesday, August 9th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Enanta Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $76.29.

About Enanta Pharmaceuticals

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Enanta Pharmaceuticals, Inc, a biotechnology company, discovers and develops small molecule drugs for the treatment of viral infections and liver diseases. Its research and development disease targets include respiratory syncytial virus, SARS-CoV-2, human metapneumovirus, and hepatitis B virus. The company has a collaborative development and license agreement with Abbott Laboratories to identify, develop, and commercialize HCV NS3 and NS3/4A protease inhibitor compounds, including paritaprevir and glecaprevir for the treatment of chronic hepatitis C virus.

See Also

Earnings History for Enanta Pharmaceuticals (NASDAQ:ENTA)

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