JMP Securities Reiterates “Market Outperform” Rating for Enanta Pharmaceuticals (NASDAQ:ENTA)

JMP Securities restated their market outperform rating on shares of Enanta Pharmaceuticals (NASDAQ:ENTA) in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $22.00 price objective on the biotechnology company’s stock.

Several other research analysts also recently weighed in on the company. JPMorgan Chase & Co. dropped their target price on Enanta Pharmaceuticals from $11.00 to $10.00 and set an underweight rating on the stock in a research note on Tuesday, August 6th. HC Wainwright restated a buy rating and set a $27.00 price target on shares of Enanta Pharmaceuticals in a research note on Tuesday, August 6th. Finally, Evercore ISI raised shares of Enanta Pharmaceuticals to a strong-buy rating in a research report on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Enanta Pharmaceuticals has a consensus rating of Moderate Buy and an average target price of $20.00.

Enanta Pharmaceuticals Stock Performance

NASDAQ:ENTA opened at $11.04 on Wednesday. The stock has a market capitalization of $233.82 million, a P/E ratio of -1.77 and a beta of 0.58. The company’s 50-day simple moving average is $11.92 and its 200-day simple moving average is $13.22. Enanta Pharmaceuticals has a fifty-two week low of $8.08 and a fifty-two week high of $17.80.

Enanta Pharmaceuticals (NASDAQ:ENTA) last announced its earnings results on Monday, August 5th. The biotechnology company reported ($1.07) earnings per share for the quarter, beating the consensus estimate of ($1.43) by $0.36. The company had revenue of $17.97 million during the quarter, compared to the consensus estimate of $17.44 million. Enanta Pharmaceuticals had a negative net margin of 160.27% and a negative return on equity of 63.75%. Enanta Pharmaceuticals’s revenue was down 4.9% compared to the same quarter last year. During the same period last year, the firm earned ($1.27) earnings per share. On average, research analysts forecast that Enanta Pharmaceuticals will post -5.3 EPS for the current year.

Insider Activity

In related news, insider Scott T. Rottinghaus sold 5,375 shares of Enanta Pharmaceuticals stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $17.08, for a total transaction of $91,805.00. Following the completion of the sale, the insider now owns 21,717 shares of the company’s stock, valued at $370,926.36. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 13.64% of the company’s stock.

Institutional Trading of Enanta Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of ENTA. Allspring Global Investments Holdings LLC acquired a new stake in shares of Enanta Pharmaceuticals in the second quarter worth $35,000. State Board of Administration of Florida Retirement System acquired a new stake in Enanta Pharmaceuticals during the 1st quarter worth about $118,000. Virtu Financial LLC acquired a new stake in Enanta Pharmaceuticals during the 1st quarter worth about $191,000. Quest Partners LLC raised its stake in shares of Enanta Pharmaceuticals by 511.2% during the 2nd quarter. Quest Partners LLC now owns 11,588 shares of the biotechnology company’s stock valued at $150,000 after buying an additional 9,692 shares during the last quarter. Finally, American Century Companies Inc. lifted its holdings in shares of Enanta Pharmaceuticals by 35.4% in the 2nd quarter. American Century Companies Inc. now owns 27,892 shares of the biotechnology company’s stock valued at $362,000 after buying an additional 7,287 shares during the period. 94.99% of the stock is currently owned by institutional investors and hedge funds.

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 product pipeline comprises EDP-514, which is in phase 1b clinical development for the treatment of chronic infection with hepatitis B virus or HBV; EDP-938 and EDP-323, which is in phase II clinical development for the treatment of respiratory syncytial virus; EDP-235, which is in phase II clinical development for the treatment of human coronaviruses; and Glecaprevir, which is in the market for the treatment of chronic infection with hepatitis C virus or HCV.