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Enanta Pharmaceuticals (NASDAQ:ENTA)’s share price traded up 3.2% on Tuesday following a better than expected earnings announcement, AnalystRatingsNetwork reports. The stock traded as high as $40.33 and last traded at $39.70, with a volume of 145,192 shares changing hands. The stock had previously closed at $38.47.

The company reported $2.61 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.67 by $0.94. The company had revenue of $42.10 million for the quarter, compared to the consensus estimate of $40.83 million. Enanta Pharmaceuticals’s revenue was up 2531.3% compared to the same quarter last year.

A number of analysts have recently weighed in on ENTA shares. Analysts at JMP Securities downgraded shares of Enanta Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research note on Monday, July 7th. Analysts at Robert W. Baird downgraded shares of Enanta Pharmaceuticals from an “outperform” rating to a “neutral” rating in a research note on Tuesday, June 24th. They now have a $41.00 price target on the stock. They noted that the move was a valuation call.

The stock has a 50-day moving average of $40.05 and a 200-day moving average of $38.28. The company’s market cap is $735.7 million.

Enanta Pharmaceuticals, Inc is a research and development-focused biotechnology company. The Company uses its chemistry-driven approach and drug discovery capabilities to create small molecule drugs in the infectious disease field.

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