Analyst Ed Arce of H.C. Wainwright maintained a Buy rating on Enanta Pharmaceuticals (ENTA – Research Report), reducing the price target to $27.00.
Ed Arce has given his Buy rating due to a combination of factors, including Enanta Pharmaceuticals’ promising developments in its RSV (respiratory syncytial virus) franchise. The anticipation of top-line data readouts from two key Phase 2 studies of their lead RSV program, zelicapavir, in the second half of 2024 is a significant driver. The enrollment progress in these studies, especially with one part fully enrolled and the other advancing, reflects positively on the company’s ability to execute its clinical trials. The high potential of zelicapavir in at-risk populations, including children and adults with RSV complications, underscores the market opportunity for Enanta’s product.
Additionally, the upcoming data from a Phase 2a challenge study of EDP-323, another oral RSV candidate with a different mechanism, enhances the company’s RSV pipeline strength. This candidate’s potential efficacy in combination with other RSV therapeutics offers a strategic advantage. Arce also considers the progress in Enanta’s immunology program, particularly the KIT inhibitor candidate for chronic spontaneous urticaria (CSU), which the company expects to select for clinical development by the fourth quarter of 2024. The innovative approach targeting the depletion of mast cells to treat CSU could address a significant unmet medical need, further justifying the positive outlook on Enanta’s stock.
In another report released today, JMP Securities also reiterated a Buy rating on the stock with a $22.00 price target.
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Enanta Pharmaceuticals (ENTA) Company Description:
Enanta Pharmaceuticals, Inc. operates as a biotechnology company. It engages in the research and development of molecule drugs for the treatment of viral infections and liver diseases. The firm offers the medicine under the brands Mavyret and Viekira Pak. The company was founded by Peter O. Kliem and Gregory L. Verdine in 1995 and is headquartered in Watertown, MA.
