Enanta Pharmaceuticals (NASDAQ:ENTA) Shares Cross Below 200 Day Moving Average - Here's Why

Shares of Enanta Pharmaceuticals, Inc. (NASDAQ:ENTA - Get Free Report) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $12.98 and traded as low as $12.40. Enanta Pharmaceuticals shares last traded at $12.64, with a volume of 162,493 shares trading hands.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Evercore ISI raised shares of Enanta Pharmaceuticals to a "strong-buy" rating in a research report on Tuesday, August 6th. JPMorgan Chase & Co. lowered their target price on Enanta Pharmaceuticals from $11.00 to $10.00 and set an "underweight" rating for the company in a research note on Tuesday, August 6th. JMP Securities reaffirmed a "market outperform" rating and issued a $22.00 price target on shares of Enanta Pharmaceuticals in a research report on Wednesday, October 9th. Finally, HC Wainwright reissued a "buy" rating and set a $27.00 price objective on shares of Enanta Pharmaceuticals in a research report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Enanta Pharmaceuticals presently has a consensus rating of "Moderate Buy" and an average price target of $20.00.

Enanta Pharmaceuticals Stock Up 2.8 %

The stock has a market cap of $275.33 million, a PE ratio of -2.03 and a beta of 0.58. The firm has a fifty day moving average of $11.84 and a 200 day moving average of $12.98.

Enanta Pharmaceuticals (NASDAQ:ENTA - Get Free Report) last posted its earnings results on Monday, August 5th. The biotechnology company reported ($1.07) earnings per share for the quarter, topping the consensus estimate of ($1.43) by $0.36. Enanta Pharmaceuticals had a negative return on equity of 63.75% and a negative net margin of 160.27%. The firm had revenue of $17.97 million during the quarter, compared to analysts' expectations of $17.44 million. During the same quarter in the previous year, the business earned ($1.27) earnings per share. The firm's revenue was down 4.9% compared to the same quarter last year. On average, equities research analysts forecast that Enanta Pharmaceuticals, Inc. will post -5.3 EPS for the current fiscal year.

Institutional Trading of Enanta Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC acquired a new position in Enanta Pharmaceuticals in the second quarter valued at $35,000. State Board of Administration of Florida Retirement System acquired a new position in Enanta Pharmaceuticals in the 1st quarter valued at about $118,000. Quest Partners LLC increased its position in Enanta Pharmaceuticals by 511.2% in the 2nd quarter. Quest Partners LLC now owns 11,588 shares of the biotechnology company's stock valued at $150,000 after acquiring an additional 9,692 shares during the period. Virtu Financial LLC purchased a new stake in Enanta Pharmaceuticals during the 1st quarter valued at approximately $191,000. Finally, American Century Companies Inc. lifted its position in Enanta Pharmaceuticals by 35.4% during the 2nd quarter. American Century Companies Inc. now owns 27,892 shares of the biotechnology company's stock worth $362,000 after acquiring an additional 7,287 shares during the period. 94.99% of the stock is owned by hedge funds and other 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.