Evercore ISI analyst Liisa Bayko lowered the firm’s price target on Enanta (ENTA) to $20 from $30 and keeps an Outperform rating on the shares. Topline results from the first-in-pediatrics Phase 2 study evaluating zelicapavir in hospitalized and non-hospitalized children aged 28 days to 36 months with respiratory syncytial virus was “a partially derisking event for the program,” but the “missing link is impact on symptoms” given that limited data were available from the study, the analyst tells investors. The firm is using a 40% probability of success and a $2B market opportunity to arrive at its price target adding that with “100% upside, the stock is undervalued.”
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