Enanta Pharmaceuticals
Develops oral RSV antivirals and immunology drugs funded by AbbVie HCV royalties.
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Profile
Develops small-molecule drugs in virology and immunology while receiving royalties tied to AbbVie's MAVYRET/MAVIRET HCV regimen. The pipeline is wholly owned, led by RSV antivirals and oral type two immunology programs.
Discovers and develops oral small-molecule drugs for virology and immunology. Current revenue comes from royalties on worldwide AbbVie sales of MAVYRET/MAVIRET, where Enanta-discovered glecaprevir is paired with pibrentasvir.
Wholly owned development work centers on RSV antivirals, including zelicapavir and EDP-323, plus oral immunology programs aimed at KIT, STAT6, and MRGPRX2. Watertown-based operations are reported as one segment and remain concentrated in research rather than commercial sales.
The business depends on AbbVie HCV sales for royalty revenue, clinical and regulatory progress in RSV and immunology, and outcomes in patent litigation involving Pfizer's Paxlovid.
Company facts
Key statistics
Year to date −5.5% · Average volume (30d) 194.7K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Jun 23, 2026 | H.C. Wainwright | Reiterate | Buy | $56 | $20 | |
| Oct 1, 2025 | Jefferies | Upgrade | Hold | Buy | $20 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 10, 2026Q3 FY26 | −$0.51 | −$0.67 | −31.5% | $16.8M | $14.4M | −14.3% | −2.10% |
| May 11, 2026Q2 FY26 | −$0.46 | −$0.45 | +2.2% | $17.0M | $17.2M | +0.8% | −6.02% |
| Feb 9, 2026Q1 FY26 | −$0.54 | −$0.42 | +22.2% | $15.9M | $18.6M | +17.0% | +2.17% |
| Nov 17, 2025Q4 FY25 | −$1.13 | −$0.87 | +23.0% | $16.0M | $15.1M | −5.3% | −3.59% |
Financial highlights
| 12 quarters | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $14.9M | $18.3M | $15.1M | $18.6M | $17.2M | $14.4M | |
| Gross profit | $14.9M | $18.3M | $15.1M | $18.6M | $16.0M | $14.4M | |
| Operating income | −$24.5M | −$18.9M | −$18.4M | −$11.3M | −$11.9M | −$17.2M | |
| Net income | −$22.6M | −$18.3M | −$18.7M | −$11.9M | −$13.1M | −$19.5M | |
| Diluted EPS | −$1.06 | −$0.86 | −$0.87 | −$0.42 | −$0.45 | −$0.67 | |
| Gross margin | 100.0% | 100.0% | 100.0% | 100.0% | 93.0% | 100.0% | |
| Operating margin | -164.3% | -103.2% | -121.6% | -60.5% | -69.1% | -120.0% |
Fiscal years (4-quarter sums)FY21 $97.1M · FY22 $86.2M · FY23 $79.2M · FY24 $67.6M · FY25 $65.3M
Revenue by product · Q3 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $189.5M · Total debt $55.7M · Total assets $296.9M · Shareholders' equity $101.1M
Dividends
No dividends on record.
Ownership
Shares outstanding 29.08M · Float 27.60M · 94.9% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Jupiter Topco LLC | 3.65M | 12.57% | 13F | Aug 14, 2026 |
| Janus Henderson Group PLC | 3.49M | 12.10% | 13G | Nov 7, 2025 |
| BlackRock, Inc. | 3.24M | 11.16% | 13F | Aug 7, 2026 |
| Krensavage Asset Management, LLC | 2.87M | 9.86% | 13F | Aug 14, 2026 |
| Farallon Capital Management LLC | 2.42M | 8.32% | 13F | Aug 14, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Dec 5, 2025 | Jay R. Luly | director, officer: President and CEO | −4,743 | $14.23 |
| Dec 5, 2025 | Yat Sun Or | officer: Chief Scientific Officer | −2,390 | $14.23 |
| Dec 5, 2025 | Tara Lynn Kieffer | officer: Chief Product Strategy Officer | −2,106 | $14.23 |
| Dec 5, 2025 | Brendan Luu | officer: Chief Business Officer | −1,394 | $14.23 |
| Dec 5, 2025 | Scott T. Rottinghaus | officer: Chief Medical Officer | −798 | $14.23 |
Peers
- Pfizer
RSV vaccine incumbent across adult and maternal use
- GSK (ADR)
Adult RSV vaccine incumbent with broad age expansion
- Sanofi (ADR)
Beyfortus and Dupixent span RSV prophylaxis and CSU
- Merck
Infant RSV antibody challenger with ENFLONSIA
- Celldex Therapeutics
KIT-targeted urticaria biologic in late-stage trials
- Moderna
mRNA RSV vaccine entrant for adult prevention
- AstraZeneca (ADR)
Beyfortus co-owner and respiratory immunology major
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Enanta Pharmaceuticals | $13.60 | −0.22% | $395.5M | — | — | 6.1 | −21.6% |
| Pfizer | $27.95 | −0.04% | $159.36B | 36.9 | 10.0 | 2.5 | +2.6% |
| GSK (ADR) | $50.57 | −0.51% | $101.82B | 15.8 | 9.2 | 2.2 | +2.7% |
| Sanofi (ADR) | $44.83 | +0.02% | $107.62B | 78.9 | — | 1.9 | +11.2% |
| Merck | $148.19 | −0.08% | $366.18B | 118.7 | 17.2 | 5.5 | +5.1% |
| Celldex Therapeutics | $39.12 | +0.08% | $2.60B | — | — | 23,240.9 | −97.0% |
| Moderna | $136.53 | −1.06% | $54.75B | — | — | 24.6 | +2.1% |
| AstraZeneca (ADR) | $161.79 | −0.55% | $252.33B | 24.4 | 15.2 | 4.1 | +6.4% |
| Median | 36.9 | 12.6 | 4.1 | +2.7% |









