Enanta Pharmaceuticals (ENTA) Moves 5.2% Higher: Will This Strength Last?

Enanta Pharmaceuticals (ENTA) shares rallied 5.2% in the last trading session to close at $14.06. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 4.2% loss over the past four weeks.The stock rallied after the company’s partner, AbbVie, received the European Commission approval for Maviret (glecaprevir/pibrentasvir) to treat patients with acute hepatitis C virus (HCV) infection in adults and children aged three years and above. Glecaprevir, one of the two direct-acting antiviral components of Maviret, was discovered by Enanta and is developed and commercialized by AbbVie. Enanta receives royalties from AbbVie on Maviret's net sales.This biotechnology company is expected to post quarterly loss of $0.37 per share in its upcoming report, which represents a year-over-year change of +56.5%. Revenues are expected to be $18.17 million, down 0.8% from the year-ago quarter.While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.For Enanta Pharmaceuticals, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on ENTA going forward to see if this recent jump can turn into more strength down the road. The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Enanta Pharmaceuticals is a member of the Zacks Medical - Biomedical and Genetics industry. One other stock in the same industry, AbCellera Biologics Inc. (ABCL), finished the last trading session 1.9% lower at $5.63. ABCL has returned 10.4% over the past month.For ABCELLERA BIOLG, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.17. This represents a change of -41.7% from what the company reported a year ago. ABCELLERA BIOLG currently has a Zacks Rank of #2 (Buy).7 Best Stocks for the Next 30 DaysJust released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."Since 1988, the full list has beaten the market more than 2X over with an average gain of +23.7% per year. So be sure to give these hand picked 7 your immediate attention. See them now >>This article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks