In a report released today, Brandon Folkes from H.C. Wainwright reiterated a Buy rating on Enanta Pharmaceuticals, with a price target of $20.00.
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Brandon Folkes’s rating is based on the promising results from Enanta Pharmaceuticals’ Phase 2b trial of zelicapavir for RSV in high-risk adults. Although the primary endpoint was missed, the trial showed strong outcomes in the HR3 population and all RSV symptoms, suggesting a high likelihood of approval for zelicapavir as an RSV therapeutic. The trial’s data indicates a significant potential upside for ENTA’s market value, as there are currently no approved RSV therapeutics.
Furthermore, the trial demonstrated a faster resolution of RSV symptoms compared to existing treatments, with notable improvements in patient outcomes and reduced hospitalization rates. The compelling virologic data, including faster viral clearance and a greater decline in viral load, supports the mechanism of action of zelicapavir, reinforcing the positive outlook for its approval. These factors collectively underpin the Buy rating and the $20 price target set by Brandon Folkes.
Folkes covers the Healthcare sector, focusing on stocks such as Eupraxia Pharmaceuticals, MannKind, and Omeros. According to TipRanks, Folkes has an average return of -4.7% and a 38.51% success rate on recommended stocks.
In another report released on September 15, Evercore ISI also maintained a Buy rating on the stock with a $12.00 price target.