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

Enanta Pharmaceuticals (NASDAQ:ENTAGet Rating) announced its quarterly earnings results on Monday. The biotechnology company reported ($1.27) EPS for the quarter, topping the consensus estimate of ($1.37) by $0.10, MarketWatch Earnings reports. Enanta Pharmaceuticals had a negative return on equity of 33.79% and a negative net margin of 141.31%. The business had revenue of $20.32 million for the quarter, compared to analyst estimates of $22.86 million. During the same quarter in the previous year, the company earned ($1.22) EPS. The company’s quarterly revenue was down 13.8% on a year-over-year basis.

Enanta Pharmaceuticals Stock Performance

Shares of NASDAQ:ENTA opened at $45.44 on Wednesday. The business has a 50-day moving average of $48.33 and a two-hundred day moving average of $51.26. Enanta Pharmaceuticals has a 12 month low of $37.59 and a 12 month high of $92.90.

Wall Street Analysts Forecast Growth

ENTA has been the topic of a number of research analyst reports. SVB Leerink boosted 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. Royal Bank of Canada cut their target price on shares of Enanta Pharmaceuticals from $65.00 to $54.00 and set a “sector perform” rating for the company in a research report on Tuesday. Oppenheimer upped their price target on shares of Enanta Pharmaceuticals from $53.00 to $59.00 and gave the company a “market perform” rating in a report on Wednesday, August 10th. JMP Securities reissued a “buy” rating and set a $96.00 price objective on shares of Enanta Pharmaceuticals in a research note on Tuesday. Finally, StockNews.com initiated coverage on Enanta Pharmaceuticals in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Enanta Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $68.71.

Institutional Investors Weigh In On Enanta Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in ENTA. State Street Corp increased its stake in Enanta Pharmaceuticals by 29.9% during the second quarter. State Street Corp now owns 1,699,428 shares of the biotechnology company’s stock worth $80,332,000 after acquiring an additional 390,842 shares during the last quarter. FMR LLC boosted its position in shares of Enanta Pharmaceuticals by 44.7% in the second quarter. FMR LLC now owns 350,333 shares of the biotechnology company’s stock worth $16,560,000 after buying an additional 108,161 shares during the period. BlackRock Inc. boosted its position in shares of Enanta Pharmaceuticals by 2.9% in the third quarter. BlackRock Inc. now owns 3,621,795 shares of the biotechnology company’s stock worth $187,864,000 after buying an additional 103,059 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of 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 worth $12,485,000 after buying an additional 52,344 shares during the period. Finally, Invesco Ltd. boosted its position in shares of Enanta Pharmaceuticals by 18.0% in the first quarter. Invesco Ltd. now owns 342,007 shares of the biotechnology company’s stock worth $24,343,000 after buying an additional 52,163 shares during the period. 97.09% of the stock is currently owned by institutional investors and hedge funds.

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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