Entera Bio (NASDAQ:ENTX) Shares Up 7.8% – Here’s Why

Entera Bio Ltd. (NASDAQ:ENTX) shot up 7.8% during mid-day trading on Monday. The company traded as high as $2.89 and last traded at $2.89. Approximately 661,753 shares traded hands during mid-day trading, a decline of 34% from the average session volume of 1,005,796 shares. The stock had previously closed at $2.68.

Analyst Ratings Changes

A number of equities analysts have commented on ENTX shares. Cantor Fitzgerald initiated coverage on Entera Bio in a research note on Tuesday, September 22nd. They issued an “overweight” rating for the company. Leerink Partners initiated coverage on Entera Bio in a report on Friday, September 18th. They set an “outperform” rating and a $9.00 target price for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Entera Bio in a research report on Thursday, October 15th. Wall Street Zen upgraded Entera Bio to a “sell” rating in a research report on Saturday, August 8th. Finally, HC Wainwright reissued a “buy” rating on shares of Entera Bio in a report on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $9.60.

Entera Bio Price Performance

The company has a market cap of $525.24 million, a price-to-earnings ratio of -8.63 and a beta of 1.40. The firm’s fifty day moving average price is $2.88 and its 200-day moving average price is $2.05.

Entera Bio (NASDAQ:ENTX) last released its quarterly earnings results on Friday, August 7th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.06). As a group, equities analysts forecast that Entera Bio Ltd. will post -0.40 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Entera Bio stock. Renaissance Technologies LLC raised its position in Entera Bio Ltd. (NASDAQ:ENTX) by 338.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 473,442 shares of the company’s stock after purchasing an additional 365,441 shares during the quarter. Renaissance Technologies LLC owned about 0.96% of Entera Bio worth $526,000 as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 14.11% of the company’s stock.

Entera Bio Company Profile

Entera Bio Ltd. is a clinical-stage biopharmaceutical company focused on developing orally delivered biologic medicines. The company’s proprietary platform is designed to enable the oral administration of large-molecule therapies, including peptides and proteins that are traditionally delivered by injection.

Entera Bio’s pipeline has included EB613, an oral formulation of parathyroid hormone fragment (teriparatide) being developed for the treatment of osteoporosis, and EB612, an oral parathyroid hormone product intended for hypoparathyroidism.