In a report released yesterday, Jay Olson from Oppenheimer maintained a Buy rating on Enanta Pharmaceuticals (NASDAQ: ENTA), with a price target of $135. The company’s shares closed on Friday at $119.60, close to its 52-week high of $122.43.
Olson commented:
“We hosted Jay Luly, CEO of ENTA, for a discussion with investors. ENTA’s strategy is based on deep expertise in medicinal chemistry and translating its best-in-class approach from HCV to other diseases. NASH is a clear focus, and ENTA has deliberately identified the FXR mechanism because it has proven clinical efficacy and pleiotropic effects. The company sees NASH as a long term opportunity for multiple competitors and eventual combinations with increased efficacy. EDP-305 is a non- bile acid so pruritus and LDL-C may be areas of differentiation. The ongoing Ph2 trial will read out in mid-2019. Luly was confident in the leadership position of Mavyret and associated royalties and sees a stabilizing market with two large players.”
According to TipRanks.com, Olson is a 3-star analyst with an average return of 4.5% and a 53.5% success rate. Olson covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals Inc, Eiger Biopharmaceuticals, and Conatus Pharmaceuticals.
Enanta Pharmaceuticals has an analyst consensus of Moderate Buy, with a price target consensus of $116.
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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.
Based on the recent corporate insider activity of 20 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. Earlier this month, Paul Mellett, the Treas. & CFO of ENTA bought 6,960 shares for a total of $13,781.
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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.
