Enanta Pharmaceuticals shares rise 1.13% intraday as biotech sector rebounds with record FDA approvals and M&A activity.

Enanta Pharmaceuticals, Inc. rose 1.13% in intraday trading, with the biotech sector experiencing a significant comeback. The Nasdaq Biotechnology Index is up over 18% year-to-date, driven by paused interest rate hikes, record FDA approvals, and a surge in M&A activity. Large pharma companies are targeting smaller biotechs with promising pipelines, adding another boost to the sector.