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 $81.91.
Olson observed:
“ENTA reported 4QFY financial results including ~$67M HCV royalties and $1.30 EPS beating consensus. ENTA presented encouraging data from a Ph1 RSV study for EDP-938 demonstrating safety across a wide range of doses and optionality for once or twice daily dosing. EDP-938 seems more potent than fusion and L inhibitors and could be used post infection. EDP-305 had preclinical data at AASLD and LDL increase may be avoided with this FXR agonist (Ph2 data in mid-2019). Separately, ENTA stock has come under pressure since late July when investors started fearing that HCV sales had peaked. We suspect the HCV market could experience continued price competition potentially compounding 2019 Mavyret market share headwinds. We maintain our Perform rating and $100 PT.”
According to TipRanks.com, Olson has 0 stars on 0-5 star ranking scale with an average return of -9.2% and a 32.7% 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 $104.
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Enanta Pharmaceuticals’ market cap is currently $1.59B and has a P/E ratio of 20.33. The company has a Price to Book ratio of 4.39.
Based on the recent corporate insider activity of 27 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, Nathaniel Gardiner, the SVP & GC of ENTA bought 1,500 shares for a total of $52,050.
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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.
