On Wednesday, H.C. Wainwright adjusted its price target on Enanta Pharmaceuticals (NASDAQ:ENTA) shares, decreasing it to $27.00 from the previous $28.00, while keeping a Buy rating on the stock.
This move comes after Enanta Pharmaceuticals provided an update on its ongoing clinical trials for zelicapavir, the company's lead Respiratory Syncytial Virus (RSV) N-protein inhibitor program.
Enanta announced on Sunday that it anticipates reporting top-line data from one of its two Phase 2 studies, RSVPEDs, in the second half of 2024. The study is currently enrolling patients in the Southern Hemisphere, with Part 1 fully enrolled and Part 2 in the process of enrolling its last age cohort.
The company also noted that enrollment for the Phase 2b RSVHR study is underway, with future updates on the timing of data readout expected later in the summer season.
The RSVPEDs study is a Phase 2 clinical trial involving 90 children, both hospitalized and non-hospitalized, aged from 28 days to 36 months. The RSVHR study, on the other hand, is a Phase 2b trial with 180 non-hospitalized adult subjects at high risk for RSV complications, including those 65 years or older, or those with congestive heart failure, chronic obstructive pulmonary disease, or asthma.
H.C. Wainwright forecasts an eventful second half of 2024 for Enanta, as the company is also set to release top-line data from a second RSV program, EDP-323, in the third quarter of 2024. With these developments, the firm has reaffirmed its Buy rating but adjusted the price target to reflect recent updates.
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