In a report released today, Jay Olson from Oppenheimer maintained a Hold rating on Enanta Pharmaceuticals (ENTA), with a price target of $100. The company’s shares closed yesterday at $87.59.
Olson commented:
“ENTA reported 2QFY19 financial results, including $39.6M HCV royalties (just short of our estimate and $40.9M consensus) and $0.20 EPS well above our ($0.09) estimate and ($0.06) consensus. ENTA described 2 data readouts that could provide important catalysts for ENTA shares: 1) Ph2a data for EDP-938 in an RSV challenge study mid-year, and 2) Ph2a data for EDP-305 in NASH in 3Q19. Investors still focus on HCV royalties as the key driver of valuation for ENTA but the pipeline has become increasingly interesting now with multiple shots on goal. We update our model to reflect actuals and maintain our Perform rating and $100 PT.”
According to TipRanks.com, Olson ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -4.5% and a 40.8% success rate. Olson covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals Inc, Conatus Pharmaceuticals, and Spero Therapeutics Inc.
Enanta Pharmaceuticals has an analyst consensus of Moderate Buy, with a price target consensus of $118.
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Based on Enanta Pharmaceuticals’ latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $26.01 million. In comparison, last year the company had a net profit of $12.56 million.
Based on the recent corporate insider activity of 36 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. Most recently, in March 2019, Nathaniel Gardiner, the SVP & GC of ENTA bought 2,519 shares for a total of $84,802.
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Enanta Pharmaceuticals, Inc. is a research and development-focused biotechnology company. It engages in the research and development of molecule drugs for the treatment of viral infections and liver diseases. Its brands include Mavyret and Viekira Pak.
