Enanta Pharmaceuticals (NASDAQ:ENTA) Releases Quarterly Earnings Results, Beats Estimates By $0.10 EPS

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

Enanta Pharmaceuticals Trading Down 0.9 %

NASDAQ:ENTA opened at $46.40 on Tuesday. The company has a fifty day moving average of $48.58 and a 200 day moving average of $51.34. Enanta Pharmaceuticals has a 52 week low of $37.59 and a 52 week high of $92.90.

Institutional Investors Weigh In On Enanta Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ENTA. Captrust Financial Advisors raised its holdings in Enanta Pharmaceuticals by 343.8% during the 1st quarter. Captrust Financial Advisors now owns 852 shares of the biotechnology company’s stock valued at $61,000 after buying an additional 660 shares during the last quarter. Point72 Hong Kong Ltd raised its holdings in Enanta Pharmaceuticals by 83.7% in the 2nd quarter. Point72 Hong Kong Ltd now owns 1,565 shares of the biotechnology company’s stock worth $74,000 after purchasing an additional 713 shares in the last quarter. Quantbot Technologies LP raised its holdings in Enanta Pharmaceuticals by 13,411.8% in the 2nd quarter. Quantbot Technologies LP now owns 2,297 shares of the biotechnology company’s stock worth $108,000 after purchasing an additional 2,280 shares in the last quarter. Bank of Montreal Can raised its holdings in Enanta Pharmaceuticals by 14.2% in the 1st quarter. Bank of Montreal Can now owns 5,558 shares of the biotechnology company’s stock worth $393,000 after purchasing an additional 690 shares in the last quarter. Finally, PDT Partners LLC bought a new position in Enanta Pharmaceuticals in the 2nd quarter worth $548,000. 97.09% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Further Reading

Earnings History for Enanta Pharmaceuticals (NASDAQ:ENTA)

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