Enanta Pharmaceuticals Initiated with a Buy at Oppenheimer

Oppenheimer analyst Jay Olson initiated coverage with a Buy rating on Enanta Pharmaceuticals (NASDAQ: ENTA) yesterday and set a price target of $135. The company’s shares closed yesterday at $111.72, close to its 52-week high of $112.15.

Olson commented:

“We recently initiated coverage of ENTA with an Outperform rating and $135 PT (on 5/24/18 at $97.62), based on our view that the company has unique molecular optimization capabilities with a proven NASH mechanism that could translate into a superior product profile in a growing field of competitors. We see Mavyret sales as stable in the US but growing ex-US. We view EDP-305 as a potential best-in- class FXR that is more selective with potentially less pruritus and can leverage the regulatory path forged by competitors. Near-term catalysts before Ph2 NASH and PBC data in mid-2019 could come from progress on RSV and HBV, which may begin a PoC study and enter the clinic by YE, respectively. We see ENTA as well funded and reiterate our Outperform rating.”

According to TipRanks.com, Olson is a 3-star analyst with an average return of 3.9% and a 49.0% 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 Moderate Buy and the average price target is $116, representing a 3.8% upside.

In a report issued on June 6, Roth Capital also initiated coverage with a Buy rating on the stock with a $133 price target.

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Based on Enanta Pharmaceuticals’ latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $12.56 million. In comparison, last year the company had a GAAP net loss of $5.39 million.

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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.