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

Key Points

• Enanta Pharmaceuticals shares fell below their 200-day moving average, trading as low as $11.00 versus the $13.24 average, and last changing hands at $11.41.
• Analyst sentiment is mixed: HC Wainwright maintained a Buy rating with a $20 price target, while Wall Street Zen and Weiss Ratings issued Sell ratings. The overall consensus remains “Moderate Buy,” with an average target of $19.
• The company recently missed quarterly earnings and revenue expectations, reporting an EPS loss of $0.67 versus the $0.51 consensus and revenue of $14.36 million versus $16.76 million expected. Enanta remains unprofitable, with analysts forecasting a full-year loss of $2.36 per share.

Enanta Pharmaceuticals, Inc. (NASDAQ:ENTA - Get Free Report)'s share price crossed below its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $13.24 and traded as low as $11.00. Enanta Pharmaceuticals shares last traded at $11.41, with a volume of 293,410 shares trading hands.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on ENTA shares. HC Wainwright restated a "buy" rating and set a $20.00 price target on shares of Enanta Pharmaceuticals in a research report on Wednesday, September 23rd. Wall Street Zen lowered shares of Enanta Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Sunday, October 11th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Enanta Pharmaceuticals in a research note on Thursday. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $19.00.

Enanta Pharmaceuticals Price Performance

The firm's 50 day moving average is $12.87 and its 200 day moving average is $13.24. The company has a market cap of $332.26 million, a PE ratio of -4.73 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 (EPS) for the quarter, missing the consensus estimate 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 analysts' expectations of $16.76 million. As a group, analysts anticipate that Enanta Pharmaceuticals, Inc. will post -2.36 EPS for the current year.

Hedge Funds Weigh In On Enanta Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ENTA. Wellington Management Group LLP increased its holdings in shares of 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 buying an additional 6,673 shares during the last quarter. Bank of America Corp DE purchased a new stake in shares of Enanta Pharmaceuticals during the 2nd quarter valued at $314,000. Jupiter Topco LLC bought a new stake in shares of Enanta Pharmaceuticals during the 2nd quarter worth $53,252,000. ADAR1 Capital Management LLC bought a new stake in shares of Enanta Pharmaceuticals during the 2nd quarter worth $19,603,000. Finally, Legal & General Group Plc bought a new stake in shares of Enanta Pharmaceuticals during the 2nd quarter worth $41,000. 94.99% of the stock is currently 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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