Enanta Pharmaceuticals (NASDAQ:ENTA) Price Target Cut to $20.00 by Analysts at Robert W. Baird

Enanta Pharmaceuticals (NASDAQ:ENTA) had its price objective cut by research analysts at Robert W. Baird from $26.00 to $20.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the biotechnology company’s stock. Robert W. Baird’s price objective points to a potential upside of 138.66% from the stock’s current price.

Other analysts have also recently issued reports about the stock. Evercore ISI raised shares of Enanta Pharmaceuticals to a “strong-buy” rating in a research report on Tuesday, August 6th. JMP Securities reiterated a “market outperform” rating and issued a $21.00 target price (down previously from $22.00) on shares of Enanta Pharmaceuticals in a research note on Tuesday. HC Wainwright reissued a “buy” rating and set a $27.00 price target on shares of Enanta Pharmaceuticals in a research report on Thursday, October 10th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Enanta Pharmaceuticals from $11.00 to $10.00 and set an “underweight” rating for the company in a research report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $19.50.

Enanta Pharmaceuticals Trading Down 7.0 %

NASDAQ:ENTA traded down $0.63 on Tuesday, hitting $8.38. 91,960 shares of the stock were exchanged, compared to its average volume of 199,973. The stock has a fifty day moving average of $11.03 and a 200-day moving average of $12.36. The stock has a market cap of $177.57 million, a PE ratio of -1.54 and a beta of 0.56. Enanta Pharmaceuticals has a fifty-two week low of $8.31 and a fifty-two week high of $17.80.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Krensavage Asset Management LLC grew its stake in Enanta Pharmaceuticals by 19.7% in the third quarter. Krensavage Asset Management LLC now owns 1,498,074 shares of the biotechnology company’s stock worth $15,520,000 after purchasing an additional 246,736 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Enanta Pharmaceuticals by 7.5% during the 1st quarter. Vanguard Group Inc. now owns 1,928,078 shares of the biotechnology company’s stock worth $33,664,000 after buying an additional 134,292 shares during the last quarter. Erste Asset Management GmbH acquired a new position in shares of Enanta Pharmaceuticals in the 3rd quarter worth approximately $1,243,000. Point72 Asset Management L.P. bought a new stake in shares of Enanta Pharmaceuticals in the 3rd quarter valued at approximately $903,000. Finally, Farallon Capital Management LLC raised its position in shares of Enanta Pharmaceuticals by 3.5% during the 1st quarter. Farallon Capital Management LLC now owns 2,095,000 shares of the biotechnology company’s stock valued at $36,579,000 after acquiring an additional 70,000 shares in the last quarter. 94.99% of the stock is owned by institutional investors and hedge funds.

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.