JMP Securities Reiterates “Market Outperform” Rating for Enanta Pharmaceuticals (NASDAQ:ENTA)

Enanta Pharmaceuticals (NASDAQ:ENTA)‘s stock had its “market outperform” rating reissued by equities researchers at JMP Securities in a report released on Friday, Benzinga reports. They currently have a $22.00 target price on the biotechnology company’s stock. JMP Securities’ target price suggests a potential upside of 118.91% from the stock’s previous close.

Other equities analysts have also issued reports about the stock. Evercore ISI upgraded shares of Enanta Pharmaceuticals to a “strong-buy” rating in a report on Tuesday, August 6th. HC Wainwright reissued a “buy” rating and issued a $27.00 target price on shares of Enanta Pharmaceuticals in a report on Tuesday, August 6th. Finally, 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. One analyst has rated the stock with a sell rating, three have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $19.00.

Enanta Pharmaceuticals Stock Down 4.0 %

Shares of ENTA stock opened at $10.05 on Friday. The stock has a market cap of $212.85 million, a price-to-earnings ratio of -1.61 and a beta of 0.59. The business’s fifty day moving average is $12.70 and its 200 day moving average is $13.45. Enanta Pharmaceuticals has a twelve month low of $8.08 and a twelve month high of $17.80.

Enanta Pharmaceuticals (NASDAQ:ENTA) last released its earnings results on Monday, August 5th. The biotechnology company reported ($1.07) earnings per share for the quarter, topping 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 the consensus estimate of $17.44 million. During the same period in the prior year, the firm earned ($1.27) EPS. The company’s revenue was down 4.9% compared to the same quarter last year. Equities research analysts expect that Enanta Pharmaceuticals will post -5.3 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Scott T. Rottinghaus sold 4,299 shares of the company’s stock in a transaction on Thursday, July 11th. The stock was 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 of the company’s stock, valued at $361,499.16. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Enanta Pharmaceuticals news, insider Scott T. Rottinghaus sold 5,375 shares of Enanta Pharmaceuticals stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $17.08, for a total value of $91,805.00. Following the completion of the sale, the insider now owns 21,717 shares of the company’s stock, valued at approximately $370,926.36. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Scott T. Rottinghaus sold 4,299 shares of the stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $15.07, for a total value of $64,785.93. Following the transaction, the insider now directly owns 23,988 shares in the company, valued at $361,499.16. The disclosure for this sale can be found here. Corporate insiders own 13.64% of the company’s stock.

Institutional Trading of Enanta Pharmaceuticals

Several large investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in 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 acquiring an additional 134,292 shares during the period. Farallon Capital Management LLC lifted its stake in shares of Enanta Pharmaceuticals by 3.5% in the 1st quarter. Farallon Capital Management LLC now owns 2,095,000 shares of the biotechnology company’s stock worth $36,579,000 after purchasing an additional 70,000 shares during the period. Pennant Investors LP bought a new position in shares of Enanta Pharmaceuticals in the 4th quarter worth approximately $330,000. Cubist Systematic Strategies LLC boosted 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 worth $588,000 after buying an additional 18,003 shares during the last quarter. Finally, Acadian Asset Management LLC grew its position in Enanta Pharmaceuticals by 1.3% during the first quarter. Acadian Asset Management LLC now owns 853,896 shares of the biotechnology company’s stock valued at $14,906,000 after buying an additional 10,952 shares during the period. Institutional investors own 94.99% of the company’s stock.

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.