ENTA - Jefferies cuts Enanta to hold cites concerns about COVID-19 drug

2023-08-08 16:54:17 ET

Jefferies has downgraded Enanta ( NASDAQ: ENTA ) to hold, citing concerns that the company won't be able to find a commercial partner for its COVID-19 treatment EDP-235.

The investment bank said it was wary of Enanta's plan not to move EDP-235 into Phase 3 testing until it finds a commercial partner for the product.

"We're skeptical if ENTA can find a partner for EDP-235," wrote the analysts in their note, adding that the rest of the company's pipeline is "too early" or has a "low" percentage of success.

Jefferies advised investors to "stay on the sidelines until we see real signs of progress." The bank set a price target of $18 for the stock.

Enanta released its quarterly earnings report on Monday.

More on Enanta:

Enanta Pharmaceuticals, Inc. ( ENTA ) Q3 2023 Earnings Call Transcript

Enanta Pharma GAAP EPS of -$1.86 beats by $0.47, revenue of $18.89M beats by $2.15M

Enanta: Deep Dive Reveals No Changes To Growth Headwinds

Drug pricing watchdog raises alarm over upcoming liver disease meds

For further details see: