Baird likes Enanta’s potential in COVID-19, upgrades to Outperform

Citing its know-how in antiviral development and its attractive valuation, Baird has upgraded to Enanta Pharmaceuticals (ENTA -5.3%) to Outperform with a $60 (56% upside) price target. It believes that the company is well-positioned to push a viable candidate for COVID-19 over the finish line. Discovery efforts are underway.

On the valuation front, Enanta’s current market cap is $767M. At the end of 2019 it had $373.8M in quick assets (representing ~$18.87/share) so the market is valuing the company at only ~$393M.

https://seekingalpha.com/news/3552615-baird-likes-enantas-potential-in-covidminus-19-upgrades-to-outperform