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Enanta Pharmaceuticals, Inc. (NASDAQ:ENTA) Shares Fly 27% But Investors Aren't Buying For Growth

Enanta Pharmaceuticals, Inc. (NASDAQ:ENTA) Shares Fly 27% But Investors Aren't Buying For Growth

埃南塔制药公司(纳斯达克股票代码:ENTA)股价上涨27%,但投资者并不是为了增长而买入
Simply Wall St ·  03/05 18:01

Enanta Pharmaceuticals, Inc. (NASDAQ:ENTA) shares have continued their recent momentum with a 27% gain in the last month alone.    Still, the 30-day jump doesn't change the fact that longer term shareholders have seen their stock decimated by the 67% share price drop in the last twelve months.  

埃南塔制药公司(纳斯达克股票代码:ENTA)的股价延续了最近的势头,仅在上个月就上涨了27%。尽管如此,30天的上涨并没有改变这样一个事实,即在过去十二个月中,长期股东的股票因股价下跌67%而暴跌。

In spite of the firm bounce in price, Enanta Pharmaceuticals' price-to-sales (or "P/S") ratio of 4.5x might still make it look like a strong buy right now compared to the wider Biotechs industry in the United States, where around half of the companies have P/S ratios above 15.7x and even P/S above 76x are quite common.   Although, it's not wise to just take the P/S at face value as there may be an explanation why it's so limited.  

尽管价格稳步反弹,但与美国整个生物技术行业相比,Enanta Pharmaceuticals的市销率(或 “市盈率”)为4.5倍,目前仍可能看起来像是一个强劲的买盘。在美国,大约一半的公司的市销率高于15.7倍,甚至市盈率高于76倍也很常见。但是,仅按面值计算市销率是不明智的,因为可以解释其为何如此有限。

NasdaqGS:ENTA Price to Sales Ratio vs Industry March 5th 2024

纳斯达克GS: ENTA 与行业的股价销售比率 2024 年 3 月 5 日

How Has Enanta Pharmaceuticals Performed Recently?

Enanta Pharmicals最近的表现如何?

While the industry has experienced revenue growth lately, Enanta Pharmaceuticals' revenue has gone into reverse gear, which is not great.   Perhaps the P/S remains low as investors think the prospects of strong revenue growth aren't on the horizon.  If this is the case, then existing shareholders will probably struggle to get excited about the future direction of the share price.    

尽管该行业最近经历了收入增长,但Enanta Pharmaceuticals的收入却倒退了,这并不好。也许市销率仍然很低,因为投资者认为强劲收入增长的前景尚未到来。如果是这样的话,那么现有股东可能很难对股价的未来走向感到兴奋。

Keen to find out how analysts think Enanta Pharmaceuticals' future stacks up against the industry? In that case, our free report is a great place to start.

想了解分析师如何看待Enanta Pharmaceuticals的未来与该行业的对立吗?在这种情况下,我们的免费报告是一个很好的起点。

Is There Any Revenue Growth Forecasted For Enanta Pharmaceuticals?  

Enanta Pharmicals的收入预计会增长吗?

There's an inherent assumption that a company should far underperform the industry for P/S ratios like Enanta Pharmaceuticals' to be considered reasonable.  

人们固有的假设是,要使像Enanta Pharmaceuticals这样的市销率被认为是合理的,公司的表现应该远远低于该行业。

Retrospectively, the last year delivered a frustrating 10% decrease to the company's top line.   The last three years don't look nice either as the company has shrunk revenue by 28% in aggregate.  Therefore, it's fair to say the revenue growth recently has been undesirable for the company.  

回顾过去,去年的公司收入下降了10%,令人沮丧。过去三年看起来也不太好,因为该公司的总收入减少了28%。因此,可以公平地说,最近的收入增长对公司来说是不可取的。

Turning to the outlook, the next three years should bring diminished returns, with revenue decreasing 0.6%  each year as estimated by the eight analysts watching the company.  With the industry predicted to deliver 265% growth each year, that's a disappointing outcome.

展望来看,未来三年的回报应该会减少,根据关注该公司的八位分析师的估计,收入每年下降0.6%。预计该行业每年将实现265%的增长,这是一个令人失望的结果。

With this in consideration, we find it intriguing that Enanta Pharmaceuticals' P/S is closely matching its industry peers.  However, shrinking revenues are unlikely to lead to a stable P/S over the longer term.  There's potential for the P/S to fall to even lower levels if the company doesn't improve its top-line growth.  

考虑到这一点,我们发现有趣的是,Enanta Pharmaceuticals的市销率与业内同行非常接近。但是,从长远来看,收入萎缩不太可能导致市销率稳定。如果公司不改善营收增长,市销率有可能降至更低的水平。

The Key Takeaway

关键要点

Enanta Pharmaceuticals' recent share price jump still sees fails to bring its P/S alongside the industry median.      Typically, we'd caution against reading too much into price-to-sales ratios when settling on investment decisions, though it can reveal plenty about what other market participants think about the company.

Enanta Pharmaceuticals最近的股价上涨仍未能使其市销率与行业中位数并驾齐驱。通常,在做出投资决策时,我们谨慎行事,不要过多地考虑市售比率,尽管这可以揭示其他市场参与者对公司的看法。

It's clear to see that Enanta Pharmaceuticals maintains its low P/S on the weakness of its forecast for sliding revenue, as expected.  Right now shareholders are accepting the low P/S as they concede future revenue probably won't provide any pleasant surprises.  It's hard to see the share price rising strongly in the near future under these circumstances.    

显而易见,Enanta Pharmicals维持了较低的市销率,原因是其对收入下滑的预测不如预期。目前,股东们正在接受低市销率,因为他们承认未来的收入可能不会带来任何惊喜。在这种情况下,很难看到股价在不久的将来强劲上涨。

We don't want to rain on the parade too much, but we did also find 2 warning signs for Enanta Pharmaceuticals that you need to be mindful of.  

我们不想在游行队伍中下太多雨,但我们也确实找到了两个需要注意的Enanta Pharmicals警告信号。

If strong companies turning a profit tickle your fancy, then you'll want to check out this free list of interesting companies that trade on a low P/E (but have proven they can grow earnings).

如果你喜欢实力雄厚的公司盈利,那么你会想看看这份以低市盈率(但已证明可以增加收益)的有趣公司的免费名单。

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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Simply Wall St的这篇文章本质上是笼统的。我们仅使用公正的方法根据历史数据和分析师的预测提供评论,我们的文章无意作为财务建议。它不构成买入或卖出任何股票的建议,也没有考虑到您的目标或财务状况。我们的目标是为您提供由基本数据驱动的长期重点分析。请注意,我们的分析可能不考虑最新的价格敏感型公司公告或定性材料。简而言之,华尔街没有持有任何上述股票的头寸。

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