Enanta Pharmaceuticals, Inc. (ENTA) Stock Price Down 8.2% Following Weak Earnings

Enanta Pharmaceuticals, Inc. (NASDAQ:ENTA) shares dropped 8.2% during mid-day trading on Tuesday following a dissappointing earnings announcement. The stock traded as low as $44.52 and last traded at $45.65. Approximately 962,315 shares changed hands during mid-day trading, an increase of 392% from the average daily volume of 195,485 shares. The stock had previously closed at $49.71.

The biotechnology company reported $1.86 earnings per share for the quarter, missing the consensus estimate of $2.13 by ($0.27). The firm had revenue of $75.93 million during the quarter, compared to the consensus estimate of $73.80 million. Enanta Pharmaceuticals had a negative net margin of 51.85% and a negative return on equity of 7.74%. The business’s revenue was up 491.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.09) earnings per share.

ENTA has been the subject of several recent research reports. Royal Bank Of Canada initiated coverage on Enanta Pharmaceuticals in a report on Thursday, September 14th. They issued an “outperform” rating for the company. JMP Securities boosted their target price on shares of Enanta Pharmaceuticals from $40.00 to $53.00 in a report on Wednesday, October 4th. Zacks Investment Research upgraded shares of Enanta Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Tuesday, October 10th. BidaskClub upgraded shares of Enanta Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Friday, August 11th. Finally, Robert W. Baird boosted their target price on shares of Enanta Pharmaceuticals from $27.00 to $36.00 and gave the stock a “neutral” rating in a report on Tuesday, August 8th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $46.25.

A number of institutional investors have recently made changes to their positions in ENTA. Stonepine Capital Management LLC raised its holdings in Enanta Pharmaceuticals by 165.9% in the second quarter. Stonepine Capital Management LLC now owns 492,265 shares of the biotechnology company’s stock worth $17,712,000 after purchasing an additional 307,166 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Enanta Pharmaceuticals by 129.7% in the first quarter. Dimensional Fund Advisors LP now owns 413,089 shares of the biotechnology company’s stock worth $12,723,000 after purchasing an additional 233,265 shares in the last quarter. State Street Corp raised its holdings in Enanta Pharmaceuticals by 31.8% in the first quarter. State Street Corp now owns 748,824 shares of the biotechnology company’s stock worth $23,063,000 after purchasing an additional 180,586 shares in the last quarter. ING Groep NV bought a new position in Enanta Pharmaceuticals in the second quarter worth about $3,274,000. Finally, First Manhattan Co. raised its holdings in Enanta Pharmaceuticals by 6.4% in the second quarter. First Manhattan Co. now owns 934,700 shares of the biotechnology company’s stock worth $33,630,000 after purchasing an additional 56,200 shares in the last quarter. Institutional investors and hedge funds own 66.45% of the company’s stock.

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Enanta Pharmaceuticals Company Profile

Enanta Pharmaceuticals, Inc is a research and development-focused biotechnology company. The Company uses chemistry-driven approach and drug discovery solutions to create small molecule drugs for the treatment of viral infections and liver diseases. Its research and development programs are focused on three disease targets: non-alcoholic steatohepatitis (NASH)/ primary biliary cholangitis (PBC), respiratory syncytial virus (RSV) and hepatitis B virus (HBV).

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