HC Wainwright Reiterates “Buy” Rating for Enanta Pharmaceuticals (NASDAQ:ENTA)

Enanta Pharmaceuticals (NASDAQ:ENTA)‘s stock had its “buy” rating reaffirmed by HC Wainwright in a report released on Wednesday, Benzinga reports. They presently have a $20.00 price objective on the biotechnology company’s stock. HC Wainwright’s price target would indicate a potential upside of 61.03% from the stock’s previous close.

ENTA has been the topic of several other reports. Wall Street Zen downgraded Enanta Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, August 22nd. Weiss Ratings restated a “sell (d-)” rating on shares of Enanta Pharmaceuticals in a research note on Friday, July 17th. Five research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $21.00.

Enanta Pharmaceuticals Stock Performance

NASDAQ ENTA opened at $12.42 on Wednesday. The firm’s fifty day moving average is $13.24 and its two-hundred day moving average is $13.35. Enanta Pharmaceuticals has a one year low of $7.05 and a one year high of $17.15. The firm has a market cap of $361.67 million, a PE ratio of -5.15 and a beta of 0.93.

Enanta Pharmaceuticals (NASDAQ:ENTA) last announced its earnings results on Monday, August 10th. The biotechnology company reported ($0.67) earnings per share for the quarter, missing the consensus estimate of ($0.51) by ($0.16). The business had revenue of $14.36 million for the quarter, compared to analyst estimates of $16.76 million. Enanta Pharmaceuticals had a negative return on equity of 61.84% and a negative net margin of 96.89%. Research analysts predict that Enanta Pharmaceuticals will post -2.36 earnings per share for the current year.

Hedge Funds Weigh In On Enanta Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Jupiter Topco LLC acquired a new stake in shares of Enanta Pharmaceuticals in the 2nd quarter worth approximately $53,252,000. BlackRock Inc. acquired a new position in Enanta Pharmaceuticals during the second quarter worth $47,304,000. ADAR1 Capital Management LLC acquired a new position in Enanta Pharmaceuticals during the second quarter worth $19,603,000. Spruce Street Capital LP purchased a new stake in Enanta Pharmaceuticals during the second quarter worth $15,873,698. Finally, Hillsdale Investment Management Inc. purchased a new stake in Enanta Pharmaceuticals during the fourth quarter worth $6,660,000. Institutional investors and hedge funds 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.