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

JMP Securities reiterated their market outperform rating on shares of Enanta Pharmaceuticals (NASDAQ:ENTA) in a research note released on Friday morning, Benzinga reports. JMP Securities currently has a $22.00 price objective on the biotechnology company’s stock.

A number of other research analysts also recently issued reports on ENTA. HC Wainwright reiterated a buy rating and issued a $27.00 price target on shares of Enanta Pharmaceuticals in a research note on Tuesday, August 6th. JPMorgan Chase & Co. decreased their price target on shares of Enanta Pharmaceuticals from $11.00 to $10.00 and set an underweight rating for the company in a research note on Tuesday, August 6th. Finally, Evercore ISI upgraded shares of Enanta Pharmaceuticals to a strong-buy rating in a research note on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of $19.00.

Enanta Pharmaceuticals Price Performance

Shares of ENTA opened at $10.05 on Friday. Enanta Pharmaceuticals has a 1-year low of $8.08 and a 1-year high of $17.80. The stock has a market cap of $212.85 million, a PE ratio of -1.61 and a beta of 0.59. The firm has a 50-day simple moving average of $12.70 and a two-hundred day simple moving average of $13.44.

Enanta Pharmaceuticals (NASDAQ:ENTA) last posted its quarterly earnings data on Monday, August 5th. The biotechnology company reported ($1.07) EPS for the quarter, beating the consensus estimate of ($1.43) by $0.36. Enanta Pharmaceuticals had a negative net margin of 160.27% and a negative return on equity of 63.75%. The business had revenue of $17.97 million during the quarter, compared to analyst estimates of $17.44 million. During the same quarter last year, the firm posted ($1.27) earnings per share. The business’s revenue for the quarter was down 4.9% compared to the same quarter last year. As a group, sell-side analysts expect that Enanta Pharmaceuticals will post -5.3 earnings per share for the current fiscal year.

Insider Buying and Selling at Enanta Pharmaceuticals

In other Enanta Pharmaceuticals news, insider Scott T. Rottinghaus sold 4,299 shares of the business’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $15.07, for a total value of $64,785.93. Following the transaction, the insider now directly owns 23,988 shares of the company’s stock, valued at approximately $361,499.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Scott T. Rottinghaus sold 5,375 shares of the company’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $17.08, for a total transaction of $91,805.00. Following the transaction, the insider now directly owns 21,717 shares of the company’s stock, valued at approximately $370,926.36. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Scott T. Rottinghaus sold 4,299 shares of the company’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $15.07, for a total transaction of $64,785.93. Following the transaction, the insider now directly owns 23,988 shares in the company, valued at $361,499.16. The disclosure for this sale can be found here. 13.64% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Enanta Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in the business. Rhumbline Advisers boosted its position in shares of Enanta Pharmaceuticals by 4.7% in the 2nd quarter. Rhumbline Advisers now owns 34,566 shares of the biotechnology company’s stock worth $448,000 after buying an additional 1,548 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in Enanta Pharmaceuticals in the 2nd quarter valued at about $35,000. State Board of Administration of Florida Retirement System purchased a new position in Enanta Pharmaceuticals in the 1st quarter valued at about $118,000. American Century Companies Inc. lifted its holdings in 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 purchasing an additional 7,287 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Enanta Pharmaceuticals by 13.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 73,841 shares of the biotechnology company’s stock valued at $958,000 after purchasing an additional 8,645 shares in the last quarter. 94.99% of the stock is currently owned by hedge funds and other institutional investors.

About Enanta Pharmaceuticals

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.