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Fly News Breaks for November 22, 2019
ENTA
Nov 22, 2019 | 05:59 EDT
JMP Securities analyst Liisa Bayko downgraded Enanta Pharmaceuticals to Market Perform from Outperform without a price target. The analyst says that while the company's fiscal Q4 results contained no surprises, she's more cautious on the competitive profile for FXR agonist EDP-305. Further, follow-on candidate EDP-297 is the most potent FXR agonist to date, according to Enanta, but it is not entering the clinic until mid-2020, so that story will take time to evolve, Bayko tells investors in a research note. The analyst believes Enanta shares are fairly valued at current levels.
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