Enanta Pharmaceuticals (ENTA – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst on November 20. Analyst Roanna Ruiz from Leerink Partners remains neutral on the stock and has a $14.00 price target.
Roanna Ruiz of Leerink Partners, in her analysis, has accorded a Hold rating to the Enanta Pharmaceuticals stock due to several factors. Firstly, Ruiz acknowledges that Enanta management has plans to leverage their small molecule drug discovery/development expertise in advancing certain undisclosed non-virology programs next year. However, she believes investors would await more details on the size and competitiveness of these programs before attributing potential value. Secondly, Ruiz acknowledges that phase 2 RSV challenge study for the L-protein inhibitor EDP-323 has commenced, and its results are anticipated in 3Q24.
Additionally, she points out that management expects the normal North Hemisphere RSV season to enable completion of enrollment and top-line readout in 3Q24 for at least one of the two ongoing phase 2 studies for ‘938. Yet, the recent approval of RSV vaccines is not anticipated to significantly impact ongoing phase 2 RSV studies for ‘938. Another significant point is that Enanta has paused their hMPV/RSV dual inhibitor program, indicating a focus on ‘938 and ‘323. This decision, according to Ruiz, may facilitate disciplined spending on Enanta’s part. Lastly, she notes that Enanta has significant cash reserves, which, along with future Mavyret royalties, should fund operations through F2027. Despite these factors, there was no impact on her price target of $14.
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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.
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