Why Shares of Enanta Pharmaceuticals Are Dropping Tuesday
Shares of Enanta Pharmaceuticals (NASDAQ: ENTA) were down more than 9% as of 11:45 a.m. on Tuesday after the clinical-stage biotech released fiscal third-quarter earnings on Tuesday. The stock is down more than 62% so far this year.
Enanta focuses on finding small-molecule drugs to treat viral infections and liver diseases. The company's quarterly revenue, all from royalties regarding sales of Mavyret, a hepatitis C therapy sold by AbbVie, fell 3% year over year to $18.9 million. Enanta reported a net loss of $39.1 million, or an earnings per share (EPS) loss of $1.86, compared to a loss of $31.7 million for an EPS loss of $1.53 in the same quarter a year ago.
The company cited increased clinical trial costs for the greater net loss. It said it had $392.5 million in cash, enough to fund operations into midyear in fiscal 2027.
Source Fool.com
Enanta Pharmaceuticals Inc. Stock
Enanta Pharmaceuticals Inc. is currently one of the favorites of our community with 9 Buy predictions and no Sell predictions.
With a target price of 17 € there is a positive potential of 49.12% for Enanta Pharmaceuticals Inc. compared to the current price of 11.4 €.
