Enanta Pharmaceuticals (NASDAQ:ENTA) Cut to "Sell" at Wall Street Zen

Key Points

• Wall Street Zen downgraded Enanta Pharmaceuticals from “hold” to “sell,” while Weiss Ratings also maintains a sell rating. However, the broader analyst consensus remains “Moderate Buy,” with a $19 price target.
• Enanta’s shares opened at $12.50, within a 52-week range of $10.20 to $17.15, and the company reported quarterly revenue and adjusted earnings below analyst expectations.
• Institutional investors own 94.99% of the stock, with several hedge funds establishing or increasing positions during the second quarter.

Enanta Pharmaceuticals (NASDAQ:ENTA - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a note issued to investors on Sunday, Wall Street Zen reports.

ENTA has been the topic of several other reports. Weiss Ratings reissued a "sell (d-)" rating on shares of Enanta Pharmaceuticals in a research note on Friday, July 17th. HC Wainwright reiterated a "buy" rating and issued a $20.00 target price on shares of Enanta Pharmaceuticals in a report on Wednesday, September 23rd. Three investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $19.00.

Enanta Pharmaceuticals Stock Performance

Shares of ENTA opened at $12.50 on Friday. Enanta Pharmaceuticals has a fifty-two week low of $10.20 and a fifty-two week high of $17.15. The company's fifty day moving average is $13.09 and its 200 day moving average is $13.27. The stock has a market capitalization of $364 million, a PE ratio of -5.19 and a beta of 0.96.

Enanta Pharmaceuticals (NASDAQ:ENTA - Get Free Report) last posted its earnings results on Monday, August 10th. The biotechnology company reported ($0.67) earnings per share for the quarter, missing analysts' consensus estimates of ($0.51) by ($0.16). The business had revenue of $14.36 million during the quarter, compared to the consensus estimate of $16.76 million. Enanta Pharmaceuticals had a negative return on equity of 61.84% and a negative net margin of 96.89%. As a group, research analysts forecast that Enanta Pharmaceuticals will post -2.36 earnings per share for the current year.

Hedge Funds Weigh In On Enanta Pharmaceuticals

Large investors have recently made changes to their positions in the company. Wellington Management Group LLP raised its position in Enanta Pharmaceuticals by 8.9% in the 2nd quarter. Wellington Management Group LLP now owns 81,633 shares of the biotechnology company's stock worth $1,190,000 after purchasing an additional 6,673 shares during the period. Bank of America Corp DE purchased a new position in shares of Enanta Pharmaceuticals during the second quarter valued at approximately $314,000. Jupiter Topco LLC bought a new position in shares of Enanta Pharmaceuticals during the second quarter valued at approximately $53,252,000. ADAR1 Capital Management LLC purchased a new stake in shares of Enanta Pharmaceuticals in the second quarter worth approximately $19,603,000. Finally, Legal & General Group Plc bought a new stake in shares of Enanta Pharmaceuticals during the 2nd quarter worth approximately $41,000. 94.99% of the stock is owned by hedge funds and other institutional investors.

About Enanta Pharmaceuticals

Enanta Pharmaceuticals, Inc is a biotechnology company focused on discovering and developing small-molecule therapies for viral infections and liver diseases. The company's research and development activities have included treatments for hepatitis B virus (HBV), respiratory syncytial virus (RSV), SARS-CoV-2 and other infectious diseases.

Enanta's most notable commercial contribution is glecaprevir, a direct-acting antiviral developed in collaboration with AbbVie and included in the Mavyret and Maviret treatment for chronic hepatitis C virus (HCV) infection.

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