Enanta Pharma (ENTA): Next Catalyst, Potential 2017 G/P Approval, Raising PT - Baird

November 22, 2016 6:48 AM EST
Get Alerts ENTA Hot Sheet
Price: $32.84 -2.35%

Rating Summary:
    5 Buy, 2 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 23 | Down: 34 | New: 34
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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.

For an analyst ratings summary and ratings history on Enanta Pharmaceuticals click here. For more ratings news on Enanta Pharmaceuticals click here.

Shares of Enanta Pharmaceuticals closed at $30.07 yesterday.

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