In a report released today, Jay Olson from Oppenheimer maintained a Hold rating on Enanta Pharmaceuticals (NASDAQ: ENTA), with a price target of $100. The company’s shares opened today at $89.98.
Olson said:
“ENTA recently reported earnings and published details on the HCV royalty economics in the 10-Q, which we use to fine-tune our HCV estimates. Changes result in slightly higher EPS in but do not influence our FCF and DCF estimates significantly. ENTA reported 3QFY financial results including ~$57M HCV royalties. ENTA stock has come under pressure since ABBV reported strong 2Q HCV revenues (7/27) while setting 2018 guidance at >$3.5B and fueling investor fears that HCV sales have peaked. We suspect continued HCV price competition potentially compounding 2019 Mavyret market share headwinds. With no additional major catalysts until mid-2019, and potential pressure on HCV, we recently moved to the sidelines with a Perform rating and $100 PT.”
According to TipRanks.com, Olson has currently no stars on a ranking scale of 0-5 stars, with an average return of -4.3% and a 36.8% success rate. Olson covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals Inc, Eiger Biopharmaceuticals, and Conatus Pharmaceuticals.
Currently, the analyst consensus on Enanta Pharmaceuticals is a Moderate Buy with an average price target of $113.33, representing a 26.0% upside. In a report issued on August 8, RBC Capital also reiterated a Hold rating on the stock with a $90 price target.
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The company has a one-year high of $127.77 and a one-year low of $37.13. Currently, Enanta Pharmaceuticals has an average volume of 277K.
Based on the recent corporate insider activity of 23 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ENTA in relation to earlier this year. Last month, Jay Luly, the President & CEO of ENTA bought 8,498 shares for a total of $99,936.
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Enanta Pharmaceuticals, Inc. engages in the research and development of small molecule drugs for the treatment of viral infections and liver diseases. It offers the two protease inhibitors Maviret and the Viekira Pak for the treatment of chronic hepatitis C virus.
