As previously reported, Jefferies upgraded Enanta (ENTA) to Buy from Hold with a price target of $20, up from $14, based on increased confidence that the company’s RSV antiviral zalicapavir could become the first outpatient antiviral approved for RSV. While acknowledging that this week’s Phase 2b RSV data in high-risk adults missed its primary endpoint, the firm argues that zalicapavir showed a “compelling signal” of about 3-7 days faster symptom resolution in a prespecified subgroup. The firm also thinks Enanta’s early-stage oral drugs targeting KIT and STAT6 “could get more interesting over time,” the analyst tells investors.
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