Evercore ISI Cuts Enanta Pharmaceuticals (NASDAQ:ENTA) Price Target to $12.00

Key Points

• Evercore ISI has reduced its price target for Enanta Pharmaceuticals from $20.00 to $12.00, while maintaining an "outperform" rating on the stock, indicating a potential upside of 53.85% from the previous close.
• Enanta Pharmaceuticals' stock dropped 5.8% to $7.80 during trading, reflecting concerns amid a generally volatile market for the biotechnology sector.
• Despite recent setbacks, Enanta has a consensus "Buy" rating from analysts, with an average price target of $20.20.

Enanta Pharmaceuticals (NASDAQ:ENTA - Get Free Report) had its price target decreased by research analysts at Evercore ISI from $20.00 to $12.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an "outperform" rating on the biotechnology company's stock. Evercore ISI's price target suggests a potential upside of 53.85% from the company's previous close.

A number of other equities analysts also recently commented on ENTA. Wall Street Zen raised shares of Enanta Pharmaceuticals from a "sell" rating to a "hold" rating in a research note on Sunday, June 22nd. HC Wainwright initiated coverage on shares of Enanta Pharmaceuticals in a research note on Monday, July 28th. They set a "buy" rating and a $20.00 price target on the stock. JMP Securities boosted their target price on shares of Enanta Pharmaceuticals from $24.00 to $25.00 and gave the stock a "market outperform" rating in a research report on Tuesday, August 12th. Finally, Westpark Capital initiated coverage on shares of Enanta Pharmaceuticals in a research report on Tuesday, September 2nd. They issued a "buy" rating and a $24.00 target price for the company. Five analysts have rated the stock with a Buy rating, According to data from MarketBeat, Enanta Pharmaceuticals has a consensus rating of "Buy" and an average price target of $20.20.

Enanta Pharmaceuticals Stock Down 5.8%

NASDAQ ENTA traded down $0.48 during trading hours on Monday, hitting $7.80. 34,206 shares of the stock were exchanged, compared to its average volume of 268,835. Enanta Pharmaceuticals has a 12-month low of $4.09 and a 12-month high of $13.37. The company has a market cap of $166.76 million, a price-to-earnings ratio of -1.81 and a beta of 0.84. The stock has a 50-day moving average of $7.86 and a 200 day moving average of $6.78.

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

Hedge Funds Weigh In On Enanta Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ENTA. Bridgeway Capital Management LLC boosted its position in shares of Enanta Pharmaceuticals by 50.8% in the second quarter. Bridgeway Capital Management LLC now owns 29,700 shares of the biotechnology company's stock valued at $225,000 after acquiring an additional 10,000 shares during the period. Marshall Wace LLP boosted its stake in Enanta Pharmaceuticals by 0.8% during the second 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 lifted its stake in shares of Enanta Pharmaceuticals by 2.3% in the second quarter. Stonepine Capital Management LLC now owns 604,066 shares of the biotechnology company's stock valued at $4,567,000 after buying an additional 13,324 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Enanta Pharmaceuticals by 4.3% in the 2nd quarter. Invesco Ltd. now owns 62,884 shares of the biotechnology company's stock worth $475,000 after acquiring an additional 2,607 shares during the last quarter. Finally, Sio Capital Management LLC lifted its position 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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