HC Wainwright Has Lowered Expectations for Enanta Pharmaceuticals (NASDAQ:ENTA) Stock Price

Enanta Pharmaceuticals (NASDAQ:ENTA) had its target price decreased by analysts at HC Wainwright from $27.00 to $18.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the biotechnology company’s stock. HC Wainwright’s target price points to a potential upside of 182.57% from the stock’s current price.

A number of other analysts have also commented on the company. JMP Securities reissued a “market outperform” rating and set a $21.00 price objective (down from $22.00) on shares of Enanta Pharmaceuticals in a report on Tuesday, November 26th. Robert W. Baird cut their price objective on shares of Enanta Pharmaceuticals from $26.00 to $20.00 and set an “outperform” rating on the stock in a report on Tuesday, November 26th. One analyst has rated the stock with a sell rating, one has issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $17.25.

Enanta Pharmaceuticals Stock Performance

Shares of Enanta Pharmaceuticals stock opened at $6.37 on Tuesday. The stock has a market capitalization of $135.01 million, a PE ratio of -1.16 and a beta of 0.49. Enanta Pharmaceuticals has a 52 week low of $5.70 and a 52 week high of $17.80. The stock has a 50 day moving average price of $9.64 and a two-hundred day moving average price of $11.66.

Enanta Pharmaceuticals (NASDAQ:ENTA) last posted its quarterly earnings results on Monday, November 25th. The biotechnology company reported ($1.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.16) by ($0.20). Enanta Pharmaceuticals had a negative net margin of 171.57% and a negative return on equity of 73.02%. The business had revenue of $14.60 million during the quarter, compared to analyst estimates of $17.99 million. During the same period in the previous year, the business posted ($1.33) EPS. The business’s revenue for the quarter was down 22.8% compared to the same quarter last year. Research analysts forecast that Enanta Pharmaceuticals will post -4.73 EPS for the current year.

Insider Buying and Selling at Enanta Pharmaceuticals

In other Enanta Pharmaceuticals news, CEO Jay R. Luly sold 5,142 shares of the business’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $8.06, for a total value of $41,444.52. Following the transaction, the chief executive officer now directly owns 801,638 shares in the company, valued at $6,461,202.28. The trade was a 0.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 13.64% of the company’s stock.

Institutional Investors Weigh In On Enanta Pharmaceuticals

Hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp increased its position in Enanta Pharmaceuticals by 13.3% in the second quarter. Bank of New York Mellon Corp now owns 73,841 shares of the biotechnology company’s stock worth $958,000 after buying an additional 8,645 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in Enanta Pharmaceuticals in the 2nd quarter worth about $35,000. Rhumbline Advisers raised its stake in Enanta Pharmaceuticals by 4.7% in the 2nd quarter. Rhumbline Advisers now owns 34,566 shares of the biotechnology company’s stock valued at $448,000 after acquiring an additional 1,548 shares during the period. Quest Partners LLC lifted its holdings in Enanta Pharmaceuticals by 511.2% during the second quarter. Quest Partners LLC now owns 11,588 shares of the biotechnology company’s stock valued at $150,000 after purchasing an additional 9,692 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in Enanta Pharmaceuticals by 35.4% during the second quarter. American Century Companies Inc. now owns 27,892 shares of the biotechnology company’s stock worth $362,000 after purchasing an additional 7,287 shares during the period. Institutional investors own 94.99% of the company’s stock.

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.