JMP Securities Reaffirms Market Outperform Rating for Enanta Pharmaceuticals (NASDAQ:ENTA)

JMP Securities reissued their market outperform rating on shares of Enanta Pharmaceuticals (NASDAQ:ENTA) in a research report report published on Tuesday,Benzinga reports. The firm currently has a $21.00 target price on the biotechnology company’s stock.

Several other equities analysts have also weighed in on ENTA. HC Wainwright restated a “buy” rating and set a $18.00 price objective on shares of Enanta Pharmaceuticals in a research report on Tuesday. Robert W. Baird reduced their price objective on shares of Enanta Pharmaceuticals from $26.00 to $20.00 and set an “outperform” rating for the company in a research report on Tuesday, November 26th. Two equities research analysts have rated the stock with a sell rating, three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $17.25.

Enanta Pharmaceuticals Stock Up 14.1 %

Shares of ENTA opened at $5.59 on Tuesday. The firm has a 50-day moving average price of $5.87 and a 200 day moving average price of $9.61. The firm has a market capitalization of $119.23 million, a PE ratio of -1.02 and a beta of 0.54. Enanta Pharmaceuticals has a 52-week low of $4.71 and a 52-week high of $17.80.

Enanta Pharmaceuticals (NASDAQ:ENTA) last posted its quarterly earnings data on Monday, February 10th. The biotechnology company reported ($1.05) earnings per share for the quarter, beating the consensus estimate of ($1.16) by $0.11. Enanta Pharmaceuticals had a negative net margin of 171.57% and a negative return on equity of 73.02%. On average, equities analysts expect that Enanta Pharmaceuticals will post -5.05 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Jay R. Luly sold 5,142 shares of the stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $8.06, for a total value of $41,444.52. Following the completion of the sale, the chief executive officer now directly owns 801,638 shares of the company’s stock, valued at $6,461,202.28. This represents a 0.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 13.89% of the company’s stock.

Institutional Trading of Enanta Pharmaceuticals

A number of hedge funds have recently made changes to their positions in the stock. Krensavage Asset Management LLC raised its position in Enanta Pharmaceuticals by 19.7% during the third quarter. Krensavage Asset Management LLC now owns 1,498,074 shares of the biotechnology company’s stock valued at $15,520,000 after acquiring an additional 246,736 shares in the last quarter. Geode Capital Management LLC raised its position in Enanta Pharmaceuticals by 3.1% during the third quarter. Geode Capital Management LLC now owns 477,351 shares of the biotechnology company’s stock valued at $4,946,000 after acquiring an additional 14,575 shares in the last quarter. State Street Corp raised its position in Enanta Pharmaceuticals by 6.4% during the third quarter. State Street Corp now owns 449,975 shares of the biotechnology company’s stock valued at $4,662,000 after acquiring an additional 27,147 shares in the last quarter. JPMorgan Chase & Co. raised its position in Enanta Pharmaceuticals by 53.7% during the third quarter. JPMorgan Chase & Co. now owns 243,628 shares of the biotechnology company’s stock valued at $2,524,000 after acquiring an additional 85,082 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its position in Enanta Pharmaceuticals by 34.1% during the fourth quarter. Assenagon Asset Management S.A. now owns 192,856 shares of the biotechnology company’s stock valued at $1,109,000 after acquiring an additional 49,050 shares in the last quarter. 94.99% of the stock is owned by hedge funds and other institutional investors.

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.