Enanta Pharmaceuticals, Inc. (NASDAQ: ENTA) reported a net loss for its fiscal first quarter, ended , but exceeded expectations in both earnings and revenue, according to financial reports released .
The Massachusetts-based biotechnology company posted a loss of $11.9 million, translating to 42 cents per share. While representing a loss, this figure surpassed the Zacks Consensus Estimate of a 54-cent loss per share. This marks the third consecutive quarter Enanta has exceeded earnings expectations, following a surprise of 23.01% in the previous quarter, where the company reported a loss of $0.87 per share against an expected loss of $1.13.
Revenue for the quarter reached $18.62 million, exceeding the Zacks Consensus Estimate by 19.52%. This represents an increase from the $16.96 million in revenue reported during the same period last year. The company has now surpassed revenue estimates in two of the last four quarters.
These results come as Enanta focuses on the development of small molecule drugs targeting viral infections and immunological diseases. The company’s performance, however, has lagged behind the broader market this year, with its stock losing approximately 14.3% since the beginning of , compared to a 1.3% gain for the S&P 500.
The positive earnings surprise was 21.50% for the quarter. Analysts suggest the sustainability of any immediate stock movement will depend heavily on management’s commentary during the upcoming earnings call. The call will likely address the factors driving the improved financial performance and provide insight into the company’s outlook for future growth.
While the financial results indicate improvement, Enanta continues to operate at a loss. The company’s ability to achieve sustained profitability remains a key question for investors. The company’s performance is being closely watched within the Zacks Medical – Biomedical and Genetics industry.
The company’s first quarter results were initially reported by Zacks Equity Research and subsequently covered by Benzinga Insights, which noted that Enanta beat estimated earnings by 43.24%, reporting an EPS of $-0.42 versus an estimate of $-0.74. Benzinga also highlighted that revenue increased by $1.66 million compared to the same period last year. Benzinga noted that in the previous quarter, the company beat EPS estimates by $0.19, resulting in a 3.59% drop in share price the following day.
The financial results were released as part of a standard news release from Enanta Pharmaceuticals, Inc. And are available for review on the company’s investor relations website. Enanta plans to release its fiscal second quarter financial results on .
this report is based on publicly available financial data, and analysis. Investors are advised to consult with a qualified financial advisor before making any investment decisions.
