From Nasdaq Inc.:

Enanta Pharmaceuticals (ENTA) shares rallied 13.8% to close at $12.04. This move is due to notable volume, higher number shares traded than typical. The rally occurred after Enanta Pharma announced plans to provide business updates on its pipeline programs and share 2024 outlook at an upcoming medical conference.

The surge in the stock price was observed after Enanta announced plans to provide business updates on its pipeline programs and share the 2024 outlook at an upcoming medical conference. The company’s pipeline of small-molecule drugs for viral infections has investors feeling positive. Enanta’s lead candidate, zelicapavir, is being evaluated in ongoing mid-stage studies to treat pediatric and adult patients with respiratory syncytial virus (RSV) infection. Topline results from at least one of these studies are expected in the third quarter of 2024.

Enanta is expected to post a loss of $1.09 per share in its upcoming report. This represents a year-over-year change of +21.6%. Revenues are expected to be $21.81 million, down 7.6% from the year-ago quarter. Earnings and revenue growth trends are strongly correlated with near-term stock price movements, so keep an eye on ENTA going forward to see if this recent jump can turn into more strength down the road.

Enanta Pharmaceuticals is part of the Zacks Medical – Drugs industry. PTC Therapeutics (PTCT), another stock in the same industry, closed the last trading session 3.2% higher at $28.09. PTCT has returned 5.3% in the past month.

PTC Therapeutics’ consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.17. This represents a change of +107.2% from the company’s year-ago EPS. PTC Therapeutics currently has a Zacks Rank of #3 (Hold). This could be an attractive buy based on its upward trend.



Read more: Strength Seen in Enanta Pharmaceuticals (ENTA): Can Its 13.8% Jump Turn into More Strength?