Enanta Pharmaceuticals (NASDAQ:ENTA) Posts Earnings Results, Beats Estimates By $0.10 EPS

Enanta Pharmaceuticals (NASDAQ:ENTAGet Rating) issued its quarterly earnings data on Monday. The biotechnology company reported ($1.27) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.37) by $0.10, MarketWatch Earnings reports. The firm had revenue of $20.32 million during the quarter, compared to analyst estimates of $22.86 million. Enanta Pharmaceuticals had a negative return on equity of 33.79% and a negative net margin of 141.31%. The business’s quarterly revenue was down 13.8% compared to the same quarter last year. During the same quarter last year, the business posted ($1.22) earnings per share.

Enanta Pharmaceuticals Stock Performance

Shares of NASDAQ:ENTA opened at $45.44 on Wednesday. Enanta Pharmaceuticals has a 1 year low of $37.59 and a 1 year high of $92.90. The business has a 50 day simple moving average of $48.33 and a two-hundred day simple moving average of $51.26.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. BlackRock Inc. boosted its position in shares of Enanta Pharmaceuticals by 2.9% during the third quarter. BlackRock Inc. now owns 3,621,795 shares of the biotechnology company’s stock valued at $187,864,000 after buying an additional 103,059 shares during the period. State Street Corp raised its stake in shares of Enanta Pharmaceuticals by 29.9% during the second quarter. State Street Corp now owns 1,699,428 shares of the biotechnology company’s stock valued at $80,332,000 after acquiring an additional 390,842 shares in the last quarter. FMR LLC raised its stake in shares of Enanta Pharmaceuticals by 44.7% during the second quarter. FMR LLC now owns 350,333 shares of the biotechnology company’s stock valued at $16,560,000 after acquiring an additional 108,161 shares in the last quarter. Invesco Ltd. raised its stake in shares of Enanta Pharmaceuticals by 18.0% during the first quarter. Invesco Ltd. now owns 342,007 shares of the biotechnology company’s stock valued at $24,343,000 after acquiring an additional 52,163 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of Enanta Pharmaceuticals by 27.8% during the third quarter. Price T Rowe Associates Inc. MD now owns 240,687 shares of the biotechnology company’s stock valued at $12,485,000 after acquiring an additional 52,344 shares in the last quarter. Hedge funds and other institutional investors own 97.09% of the company’s stock.

Wall Street Analyst Weigh In

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

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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