JMP Securities Issues Positive Forecast for Enanta Pharmaceuticals (NASDAQ:ENTA) Stock Price

Enanta Pharmaceuticals (NASDAQ:ENTA) had its price target hoisted by equities research analysts at JMP Securities from $23.00 to $24.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “market outperform” rating on the biotechnology company’s stock. JMP Securities’ price target indicates a potential upside of 238.50% from the company’s current price.

A number of other equities research analysts have also recently issued reports on the company. HC Wainwright restated a “buy” rating and issued a $18.00 price objective on shares of Enanta Pharmaceuticals in a research note on Tuesday, February 11th. Wall Street Zen upgraded Enanta Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, one has given 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, Enanta Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $18.00.

Enanta Pharmaceuticals Trading Up 12.7%

Shares of ENTA traded up $0.80 on Tuesday, reaching $7.09. 62,028 shares of the company’s stock traded hands, compared to its average volume of 284,416. The stock’s 50 day simple moving average is $5.40 and its two-hundred day simple moving average is $6.21. The stock has a market cap of $151.56 million, a PE ratio of -1.43 and a beta of 0.81. Enanta Pharmaceuticals has a 52-week low of $4.09 and a 52-week high of $17.24.

Enanta Pharmaceuticals (NASDAQ:ENTA) last issued its quarterly earnings results on Monday, May 12th. The biotechnology company reported ($1.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.04) by ($0.02). Enanta Pharmaceuticals had a negative return on equity of 75.53% and a negative net margin of 157.57%. The company had revenue of $14.93 million during the quarter, compared to analysts’ expectations of $15.96 million. Analysts forecast that Enanta Pharmaceuticals will post -4.65 earnings per share for the current year.

Hedge Funds Weigh In On Enanta Pharmaceuticals

Institutional investors have recently bought and sold shares of the stock. AlphaQuest LLC lifted its position in Enanta Pharmaceuticals by 16.4% during the 4th quarter. AlphaQuest LLC now owns 22,260 shares of the biotechnology company’s stock valued at $128,000 after acquiring an additional 3,137 shares during the period. Jacobs Levy Equity Management Inc. lifted its stake in shares of Enanta Pharmaceuticals by 51.3% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 290,011 shares of the biotechnology company’s stock worth $1,668,000 after purchasing an additional 98,285 shares during the period. Thrivent Financial for Lutherans bought a new stake in shares of Enanta Pharmaceuticals during the 4th quarter valued at $254,000. Marshall Wace LLP grew its holdings in Enanta Pharmaceuticals by 9.3% during the fourth quarter. Marshall Wace LLP now owns 930,087 shares of the biotechnology company’s stock valued at $5,348,000 after purchasing an additional 79,197 shares during the period. Finally, Millennium Management LLC lifted its position in shares of Enanta Pharmaceuticals by 22.7% during the 4th quarter. Millennium Management LLC now owns 896,987 shares of the biotechnology company’s stock valued at $5,158,000 after buying an additional 165,692 shares in the last quarter. 94.99% of the stock is owned by institutional investors.

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.