Enanta Pharmaceuticals (NASDAQ:ENTA) Shares Gap Down on Analyst Downgrade

Enanta Pharmaceuticals, Inc. (NASDAQ:ENTAGet Rating)’s stock price gapped down prior to trading on Tuesday after Royal Bank of Canada lowered their price target on the stock from $65.00 to $54.00. The stock had previously closed at $46.40, but opened at $43.39. Royal Bank of Canada currently has a sector perform rating on the stock. Enanta Pharmaceuticals shares last traded at $41.74, with a volume of 1,251 shares traded.

ENTA has been the subject of a number of other research reports. JMP Securities boosted 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. SVB Leerink boosted their price objective on Enanta Pharmaceuticals from $44.00 to $50.00 and gave the company a “market perform” rating in a research report on Monday, August 1st. StockNews.com assumed coverage on Enanta Pharmaceuticals in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Finally, Oppenheimer boosted their price objective on Enanta Pharmaceuticals from $53.00 to $59.00 and gave the company a “market perform” rating in a research report on Wednesday, August 10th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $68.71.

Hedge Funds Weigh In On Enanta Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the business. Teachers Retirement System of The State of Kentucky purchased a new stake in Enanta Pharmaceuticals in the third quarter worth $225,000. 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 during the period. 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 during the period. Jacobs Levy Equity Management Inc. grew its stake in Enanta Pharmaceuticals by 18.4% in the third quarter. Jacobs Levy Equity Management Inc. now owns 352,303 shares of the biotechnology company’s stock worth $18,274,000 after purchasing an additional 54,771 shares during the period. Finally, Thrivent Financial for Lutherans grew 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 worth $1,045,000 after purchasing an additional 2,027 shares during the period. Institutional investors own 97.09% of the company’s stock.

Enanta Pharmaceuticals Price Performance

The company has a market capitalization of $941.74 million, a PE ratio of -7.75 and a beta of 0.53. The company has a 50 day moving average of $48.33 and a two-hundred day moving average of $51.26.

Enanta Pharmaceuticals (NASDAQ:ENTAGet Rating) last posted its earnings results on Monday, November 21st. The biotechnology company reported ($1.27) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.37) by $0.10. 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 the consensus estimate of $22.86 million. During the same quarter in the prior year, the company earned ($1.22) earnings per share. Enanta Pharmaceuticals’s revenue was down 13.8% on a year-over-year basis. On average, equities analysts anticipate that Enanta Pharmaceuticals, Inc. will post -6.01 EPS for the current year.

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.

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