Brendan Luu, the Chief Business Officer of Enanta Pharmaceuticals Inc . (NASDAQ:ENTA), recently sold 2,283 shares of the company's common stock. The transaction, which took place on December 6, 2024, was valued at approximately $18,400, with shares sold at a weighted-average price of $8.06. The sale comes as the stock trades near its 52-week low of $7.58, having declined about 30% over the past six months according to InvestingPro data.
This sale was conducted to cover withholding taxes due from the settlement of a restricted stock unit award granted previously. Following the transaction, Luu holds 36,047 shares directly. The shares were sold in multiple transactions at prices ranging from $7.87 to $8.22. InvestingPro analysis suggests the stock is currently undervalued, with a strong liquidity position reflected in a current ratio of 5.21. Discover more insights and 6 additional ProTips for ENTA in the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers.
In other recent news, Enanta Pharmaceuticals has seen multiple adjustments to its price target by different firms, following its fiscal fourth-quarter and full-year 2024 financial report. Leerink Partners raised its price target for the company to $12.00 from the previous $10.00, while Baird reduced its target to $20 from $26, both firms maintaining their ratings on the stock. The financial report revealed royalty revenues of approximately $14.6 million from Mavyret in the hepatitis C virus market, a figure lower than expected by both Leerink and the FactSet consensus.
Despite this, Leerink anticipates investor attention will shift to upcoming events, such as the expected release of Phase 2 RSVPEDs trial data for zelicapavir and the progress of Enanta's EDP-323 respiratory syncytial virus antiviral. Enanta has also nominated EPS-1421 as the development candidate for its KIT inhibitor program, aimed at chronic spontaneous urticaria and other mast cell-driven diseases.
H.C. Wainwright reiterated its Buy rating on Enanta shares, emphasizing the company's proficiency in developing impactful antiviral therapies. Baird and JMP Securities also maintained their positive ratings for the company, following Pfizer (NYSE:PFE)'s decision to halt the development of its fusion inhibitor sisunatovir. These are recent developments in Enanta Pharmaceuticals' ongoing efforts to address unmet medical needs in the treatment of respiratory infections.
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