Enanta Pharmaceuticals (NASDAQ:ENTA) Now Covered by Westpark Capital

Key Points

• Westpark Capital has initiated coverage on Enanta Pharmaceuticals (NASDAQ: ENTA) with a buy rating and a price target of $24.00, indicating a potential upside of 185.71% from its current price.
• The company recently reported earnings of ($0.85) per share, surpassing analyst expectations, and has a current market capitalization of approximately $179.59 million.
• Analysts from multiple sources continue to express positive sentiment about Enanta, with the consensus rating being "buy" and an average price target of $22.25.

Research analysts at Westpark Capital assumed coverage on shares of Enanta Pharmaceuticals (NASDAQ:ENTA - Get Free Report) in a report issued on Tuesday,Benzinga reports. The brokerage set a "buy" rating and a $24.00 price target on the biotechnology company's stock. Westpark Capital's target price suggests a potential upside of 171.19% from the stock's previous close.

A number of other analysts have also issued reports on ENTA. Wall Street Zen raised Enanta Pharmaceuticals from a "sell" rating to a "hold" rating in a research note on Sunday, June 22nd. JMP Securities raised their price target on Enanta Pharmaceuticals from $24.00 to $25.00 and gave the stock a "market outperform" rating in a research note on Tuesday, August 12th. Finally, HC Wainwright started coverage on Enanta Pharmaceuticals in a research note on Monday, July 28th. They issued a "buy" rating and a $20.00 price target on the stock. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, Enanta Pharmaceuticals presently has a consensus rating of "Buy" and a consensus target price of $22.25.

Enanta Pharmaceuticals Stock Performance

NASDAQ:ENTA traded down $0.04 during trading hours on Tuesday, hitting $8.85. The company's stock had a trading volume of 103,778 shares, compared to its average volume of 159,307. The business's 50-day moving average is $7.77 and its two-hundred day moving average is $6.79. The company has a market capitalization of $189.20 million, a PE ratio of -2.05 and a beta of 0.84. Enanta Pharmaceuticals has a 52-week low of $4.09 and a 52-week high of $13.37.

Enanta Pharmaceuticals (NASDAQ:ENTA - Get Free Report) last posted its earnings results on Monday, August 11th. The biotechnology company reported ($0.85) earnings per share for the quarter, beating the consensus estimate of ($1.25) by $0.40. The company had revenue of $18.31 million for the quarter, compared to analyst estimates of $16.21 million. Enanta Pharmaceuticals had a negative return on equity of 89.02% and a negative net margin of 141.98%. As a group, analysts predict that Enanta Pharmaceuticals will post -4.65 EPS for the current fiscal year.

Institutional Investors Weigh In On Enanta Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the business. Millennium Management LLC grew its position in shares of Enanta Pharmaceuticals by 50.2% in the 1st quarter. Millennium Management LLC now owns 1,346,932 shares of the biotechnology company's stock worth $7,435,000 after acquiring an additional 449,945 shares in the last quarter. Acadian Asset Management LLC grew its position in shares of Enanta Pharmaceuticals by 2.1% in the 1st quarter. Acadian Asset Management LLC now owns 867,037 shares of the biotechnology company's stock worth $4,782,000 after acquiring an additional 17,613 shares in the last quarter. Marshall Wace LLP grew its position in shares of Enanta Pharmaceuticals by 0.8% in the 2nd quarter. Marshall Wace LLP now owns 857,412 shares of the biotechnology company's stock worth $6,482,000 after acquiring an additional 6,522 shares in the last quarter. Stonepine Capital Management LLC grew its position in shares of Enanta Pharmaceuticals by 2.3% in the 2nd quarter. Stonepine Capital Management LLC now owns 604,066 shares of the biotechnology company's stock worth $4,567,000 after acquiring an additional 13,324 shares in the last quarter. Finally, AQR Capital Management LLC grew its position in shares of Enanta Pharmaceuticals by 674.7% in the 1st quarter. AQR Capital Management LLC now owns 357,109 shares of the biotechnology company's stock worth $1,971,000 after acquiring an additional 311,010 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.