Enanta Pharma (ENTA): Next Catalyst, Potential 2017 G/P Approval, Raising PT - Baird
- Top 10 News for 12/2: Crude Rips on OPEC Cut; Starbucks' Schultz Steps Down; Nonfarm Payrolls Flat in Nov.
- Unemployment Rate Drops to 4.6%
- Bond yields slip on U.S. jobs data, euro steady before Italy vote
- Alibaba (BABA) Founder Jack Ma Discuss Plans to Retire; 'I Don't Want to Die at the Office'
- Starbucks Coffee (SBUX) CEO Howard Schultz to Step Down, Appointed Executive Chairman; Kevin Johnson New CEO
Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.
Baird analyst, Brian Skorney, reiterated his Outperform rating on shares of Enanta Pharmaceuticals (NASDAQ: ENTA) and raised the price target to $27 on the potential for G/P.
Enanta reported ($0.90) in fourth fiscal-quarter EPS, beating his EPS estimate on modestly higher royalty revenue and an income tax benefit. The analyst stated "though sales of Viekira continue to remain range-bound, the story is shifting to next-gen Hep C combo, G/P. With approval expected next year, the company could see a meaningful increase in royalty revenues that may help to offset increasing burn as internal programs advance."
The price target increases to $27 from $22 based on a discounted cash flow analysis on royalties from AbbVie.
Shares of Enanta Pharmaceuticals closed at $30.07 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Oppenheimer Cuts Price Target on Workday (WDAY) Following 3Q; Reiterates Outperform
- BTIG Cuts PT on Workday (WDAY) to $88 Following Q3 Results; Affirms at 'Buy'
- ULTA Salon (ULTA) PT Raised to $290 at Stifel But Remains Sidelined
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change
Related EntitiesRobert W Baird
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!