Enanta Pharmaceuticals (NASDAQ:ENTA) Share Price Breaks Below 200-Day Moving Average - Time to Sell?

Key Points

• Enanta Pharmaceuticals shares fell below their 200-day moving average, reaching $12.58 before closing at $12.96, compared with the $13.29 long-term average.
• Analyst sentiment remains mixed but leans positive: three analysts rate the stock Buy and one rates it Sell, producing a “Moderate Buy” consensus and a $19 average price target.
• The company reported weaker-than-expected quarterly results, with an adjusted loss of $0.67 per share and revenue of $14.36 million; analysts expect a full-year loss of $2.36 per share.

Enanta Pharmaceuticals, Inc. (NASDAQ:ENTA - Get Free Report)'s stock price passed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $13.29 and traded as low as $12.58. Enanta Pharmaceuticals shares last traded at $12.96, with a volume of 748,002 shares.

Wall Street Analyst Weigh In

ENTA has been the topic of a number of recent research reports. Wall Street Zen upgraded shares of Enanta Pharmaceuticals from a "sell" rating to a "hold" rating in a report on Saturday. HC Wainwright reiterated a "buy" rating and set a $20.00 target price on shares of Enanta Pharmaceuticals in a report on Wednesday, September 23rd. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Enanta Pharmaceuticals in a research report on Friday, July 17th. Three analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $19.00.

Enanta Pharmaceuticals Stock Up 0.9%

The firm has a fifty day moving average price of $13.13 and a two-hundred day moving average price of $13.29. The stock has a market capitalization of $377.40 million, a P/E ratio of -5.38 and a beta of 0.96.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Jupiter Topco LLC bought a new position in Enanta Pharmaceuticals in the 2nd quarter valued at approximately $53,252,000. BlackRock Inc. purchased a new stake in Enanta Pharmaceuticals during the 2nd quarter valued at $47,304,000. ADAR1 Capital Management LLC bought a new stake in shares of Enanta Pharmaceuticals in the 2nd quarter worth $19,603,000. Spruce Street Capital LP bought a new stake in shares of Enanta Pharmaceuticals in the 2nd quarter worth $15,873,698. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Enanta Pharmaceuticals in the 2nd quarter worth $2,231,000. Institutional investors own 94.99% of the company's stock.

About Enanta Pharmaceuticals

Enanta Pharmaceuticals, Inc is a biotechnology company focused on discovering and developing small-molecule therapies for viral infections and other diseases. The company's research has primarily centered on antiviral medicines, including treatments for respiratory syncytial virus (RSV), hepatitis B, and other infectious diseases.

Enanta is best known for its role in the development of glecaprevir, a protease inhibitor used with pibrentasvir in AbbVie's Mavyret (also marketed as Maviret) treatment for chronic hepatitis C virus infection.

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