ENTA - Enanta Pharma is up after J.P. Morgan upgrade
Post JPM Healthcare Conference, the analysts at J.P. Morgan has revised their ratings for stocks in the SMID Biotech space, expecting the companies with a longer timeline for catalysts to trade in line with the group despite a promising outlook expected for biotech in 2021.With a price target of $55, ~10.4% upside to today’s close, Enanta Pharmaceuticals (ENTA) was upgraded to neutral from underweight, noting ‘a bottoming out of the Mavyret HCV franchise in the US.’ The shares traded gained ~4.4% today.The analyst Eric Joseph also views the ’de-risking pipeline readouts for HBV and NASH’ in an increasingly competitive environment and term the opportunity for EDP-938 in adults with Acute RSV Infection as a ‘more attractive value proposition.’In September, Enanta dosed the first patient in its Phase 1 trial of EDP-297 for the treatment of non-alcoholic steatohepatitis, with initial data expected in Q2 2021.Initiated in December, Phase 2b study of EDP-938 in adult
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Enanta Pharma is up after J.P. Morgan upgrade