Enanta upgraded to Outperform at Evercore ISI ahead of COVID anti-viral data
Evercore ISI analyst Liisa Bayko upgraded Enanta (ENTA) to Outperform from In Line with a $62 price target, telling investors that she believes the Phase 1 first-in-human data for its COVID anti-viral data due in July will show that its once-daily COVID protease inhibitor, EDP-235, doesn't require ritonavir to reach exposures needed for a strong anti-viral effect like Pfizer's (PFE) Paxlovid does.
The anti-viral "could be best in class and partnerable," added Bayko, who is assuming a 20% probability of success for EDP-235 being commercialized by a pharma partner.
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