Enanta Pharmaceuticals (NASDAQ:ENTA) Share Price Crosses Below 200-Day Moving Average – Here’s Why

Enanta Pharmaceuticals, Inc. (NASDAQ:ENTA)’s share price passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $9.10 and traded as low as $7.96. Enanta Pharmaceuticals shares last traded at $8.09, with a volume of 377,139 shares traded.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ENTA. Robert W. Baird lowered their price target on shares of Enanta Pharmaceuticals from $26.00 to $20.00 and set an “outperform” rating for the company in a report on Tuesday, November 26th. StockNews.com raised shares of Enanta Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, February 19th. HC Wainwright reaffirmed a “buy” rating and issued a $18.00 target price on shares of Enanta Pharmaceuticals in a research report on Tuesday, February 11th. Finally, JMP Securities reiterated a “market outperform” rating and set a $21.00 price target on shares of Enanta Pharmaceuticals in a research report on Tuesday, February 11th. One analyst has rated the stock with a sell rating, one has issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $17.25.

Enanta Pharmaceuticals Price Performance

The company has a market capitalization of $172.58 million, a PE ratio of -1.63 and a beta of 0.54. The company has a 50 day moving average of $5.90 and a two-hundred day moving average of $9.10.

Enanta Pharmaceuticals (NASDAQ:ENTA) last issued its quarterly earnings results on Monday, February 10th. The biotechnology company reported ($1.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.16) by $0.11. Enanta Pharmaceuticals had a negative net margin of 157.57% and a negative return on equity of 75.53%. On average, equities analysts anticipate that Enanta Pharmaceuticals, Inc. will post -4.65 EPS for the current year.

Insider Buying and Selling

In other news, CEO Jay R. Luly acquired 45,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 12th. The shares were bought at an average cost of $5.69 per share, with a total value of $256,050.00. Following the transaction, the chief executive officer now owns 846,638 shares of the company’s stock, valued at $4,817,370.22. This trade represents a 5.61 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 13.89% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Enanta Pharmaceuticals

A number of institutional investors have recently made changes to their positions in ENTA. US Bancorp DE raised its holdings in Enanta Pharmaceuticals by 4,933.7% in the 3rd quarter. US Bancorp DE now owns 4,329 shares of the biotechnology company’s stock worth $45,000 after acquiring an additional 4,243 shares during the last quarter. Quest Partners LLC increased its holdings in shares of Enanta Pharmaceuticals by 65.0% in the 3rd quarter. Quest Partners LLC now owns 19,123 shares of the biotechnology company’s stock worth $198,000 after purchasing an additional 7,535 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Enanta Pharmaceuticals in the third quarter worth $122,000. Valence8 US LP bought a new position in shares of Enanta Pharmaceuticals during the third quarter valued at $207,000. Finally, FMR LLC lifted its holdings in shares of Enanta Pharmaceuticals by 18.9% during the third quarter. FMR LLC now owns 49,301 shares of the biotechnology company’s stock valued at $511,000 after purchasing an additional 7,839 shares in the last quarter. Hedge funds and other institutional investors own 94.99% of the company’s stock.

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.