Enanta Pharmaceuticals (NASDAQ:ENTA) Share Price Passes Above 200 Day Moving Average – Here’s Why

Enanta Pharmaceuticals, Inc. (NASDAQ:ENTA) shares crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $8.11 and traded as high as $12.47. Enanta Pharmaceuticals shares last traded at $12.04, with a volume of 323,854 shares changing hands.

Analysts Set New Price Targets

Several research firms have weighed in on ENTA. Westpark Capital increased their price objective on Enanta Pharmaceuticals from $24.00 to $28.00 and gave the stock a “buy” rating in a report on Tuesday, September 30th. Jefferies Financial Group upgraded Enanta Pharmaceuticals from a “hold” rating to a “buy” rating and upped their target price for the company from $14.00 to $20.00 in a report on Wednesday, October 1st. JMP Securities raised their price target on Enanta Pharmaceuticals from $24.00 to $25.00 and gave the stock a “market outperform” rating in a research note on Tuesday, August 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Enanta Pharmaceuticals in a report on Wednesday, October 8th. Finally, HC Wainwright initiated coverage on shares of Enanta Pharmaceuticals in a research report on Monday, July 28th. They set a “buy” rating and a $20.00 price target on the stock. Six research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Enanta Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus price target of $20.83.

Enanta Pharmaceuticals Stock Up 4.6%

The stock’s fifty day simple moving average is $10.05 and its two-hundred day simple moving average is $8.11. The firm has a market cap of $257.39 million, a PE ratio of -2.79 and a beta of 0.88.

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

Hedge Funds Weigh In On Enanta Pharmaceuticals

Several large investors have recently modified their holdings of the stock. US Bancorp DE purchased a new stake in Enanta Pharmaceuticals during the 1st quarter valued at about $36,000. Farther Finance Advisors LLC raised its holdings in Enanta Pharmaceuticals by 11,558.0% in the second quarter. Farther Finance Advisors LLC now owns 5,829 shares of the biotechnology company’s stock worth $44,000 after buying an additional 5,779 shares during the last quarter. MetLife Investment Management LLC bought a new position in shares of Enanta Pharmaceuticals in the first quarter worth approximately $72,000. Corton Capital Inc. purchased a new stake in shares of Enanta Pharmaceuticals during the first quarter valued at approximately $77,000. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Enanta Pharmaceuticals during the second quarter valued at approximately $88,000. Hedge funds and other institutional investors own 94.99% of the company’s stock.

Enanta Pharmaceuticals Company Profile

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.