Enanta Pharmaceuticals (NASDAQ:ENTA) Posts Quarterly Earnings Results, Beats Estimates By $0.78 EPS

Enanta Pharmaceuticals (NASDAQ:ENTA) issued its quarterly earnings results on Monday. The biotechnology company reported ($1.33) earnings per share for the quarter, topping the consensus estimate of ($2.11) by $0.78, MarketWatch Earnings reports. Enanta Pharmaceuticals had a negative net margin of 163.87% and a negative return on equity of 46.77%. During the same quarter in the previous year, the firm posted ($1.27) EPS.

Enanta Pharmaceuticals Stock Performance

NASDAQ:ENTA opened at $8.94 on Tuesday. The stock has a 50-day simple moving average of $10.07 and a 200-day simple moving average of $16.97. The stock has a market cap of $188.23 million, a P/E ratio of -1.42 and a beta of 0.48. Enanta Pharmaceuticals has a 1 year low of $8.08 and a 1 year high of $62.06.

Hedge Funds Weigh In On Enanta Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in the stock. Teachers Retirement System of The State of Kentucky purchased a new position in shares of Enanta Pharmaceuticals in the 3rd quarter valued at $225,000. Tudor Investment Corp Et Al acquired a new position in Enanta Pharmaceuticals in the second quarter valued at $222,000. Comerica Bank purchased a new position in shares of Enanta Pharmaceuticals during the second quarter worth about $170,000. Deutsche Bank AG lifted its holdings in shares of Enanta Pharmaceuticals by 15.4% in the 3rd quarter. Deutsche Bank AG now owns 10,365 shares of the biotechnology company’s stock valued at $116,000 after purchasing an additional 1,383 shares during the last quarter. Finally, Hsbc Holdings PLC acquired a new stake in shares of Enanta Pharmaceuticals in the 3rd quarter valued at about $115,000. 94.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on ENTA shares. Royal Bank of Canada lowered their price objective on Enanta Pharmaceuticals from $25.00 to $15.00 and set a “sector perform” rating on the stock in a research report on Monday, October 2nd. Jefferies Financial Group cut shares of Enanta Pharmaceuticals from a “buy” rating to a “hold” rating and cut their price target for the stock from $49.00 to $18.00 in a report on Tuesday, August 8th. StockNews.com lowered Enanta Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Friday, September 29th. JMP Securities decreased their target price on shares of Enanta Pharmaceuticals from $42.00 to $23.00 and set an “outperform” rating for the company in a research report on Tuesday. Finally, JPMorgan Chase & Co. cut shares of Enanta Pharmaceuticals from a “neutral” rating to an “underweight” rating and set a $14.00 price objective for the company. in a research note on Wednesday, August 9th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $32.38.

Enanta Pharmaceuticals Company Profile

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.