Enanta Pharmaceuticals (NASDAQ:ENTA) Price Target Raised to $28.00

Key Points

• Westpark Capital has raised its price target for Enanta Pharmaceuticals from $24.00 to $28.00, indicating a potential upside of 84.70% from its current price.
• Enanta reported an earnings per share (EPS) of ($0.85), beating analysts' expectations of ($1.25), alongside revenue of $18.31 million for the quarter ending August 11.
• Institutional ownership of Enanta Pharmaceuticals is notably high, with 94.99% of the stock held by institutional investors as of the latest quarter.

Enanta Pharmaceuticals (NASDAQ:ENTA - Get Free Report) had its price objective hoisted by equities researchers at Westpark Capital from $24.00 to $28.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a "buy" rating on the biotechnology company's stock. Westpark Capital's price target would indicate a potential upside of 84.70% from the company's current price.

A number of other equities analysts have also recently commented on ENTA. JMP Securities lifted 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. Evercore ISI reduced their target price on Enanta Pharmaceuticals from $20.00 to $12.00 and set an "outperform" rating on the stock in a research note on Monday, September 15th. HC Wainwright initiated coverage on Enanta Pharmaceuticals in a research note on Monday, July 28th. They set a "buy" rating and a $20.00 target price on the stock. Finally, Wall Street Zen raised Enanta Pharmaceuticals from a "sell" rating to a "hold" rating in a research note on Sunday, June 22nd. Five equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $21.00.

Enanta Pharmaceuticals Price Performance

NASDAQ:ENTA opened at $15.16 on Tuesday. The business has a 50 day moving average of $8.10 and a 200 day moving average of $6.87. The company has a market capitalization of $324.12 million, a price-to-earnings ratio of -3.51 and a beta of 0.84. Enanta Pharmaceuticals has a 1-year low of $4.09 and a 1-year high of $15.34.

Enanta Pharmaceuticals (NASDAQ:ENTA - Get Free Report) last announced its quarterly earnings results on Monday, August 11th. The biotechnology company reported ($0.85) EPS for the quarter, topping analysts' consensus estimates of ($1.25) by $0.40. The business had revenue of $18.31 million for the quarter, compared to analysts' expectations 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, sell-side analysts anticipate that Enanta Pharmaceuticals will post -4.65 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Bridgeway Capital Management LLC lifted its holdings in shares of Enanta Pharmaceuticals by 50.8% during the second quarter. Bridgeway Capital Management LLC now owns 29,700 shares of the biotechnology company's stock valued at $225,000 after purchasing an additional 10,000 shares in the last quarter. Marshall Wace LLP lifted its holdings in shares of Enanta Pharmaceuticals by 0.8% during the second quarter. Marshall Wace LLP now owns 857,412 shares of the biotechnology company's stock valued at $6,482,000 after purchasing an additional 6,522 shares in the last quarter. Stonepine Capital Management LLC lifted its holdings in shares of Enanta Pharmaceuticals by 2.3% during the second quarter. Stonepine Capital Management LLC now owns 604,066 shares of the biotechnology company's stock valued at $4,567,000 after purchasing an additional 13,324 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Enanta Pharmaceuticals by 4.3% during the second quarter. Invesco Ltd. now owns 62,884 shares of the biotechnology company's stock valued at $475,000 after purchasing an additional 2,607 shares in the last quarter. Finally, Sio Capital Management LLC lifted its holdings in shares of Enanta Pharmaceuticals by 1.0% during the second quarter. Sio Capital Management LLC now owns 178,774 shares of the biotechnology company's stock valued at $1,352,000 after purchasing an additional 1,770 shares in the last quarter. 94.99% of the stock is owned by 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.

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