Enanta Pharmaceuticals shares are trading lower after the company reported Q3 financial results. Additionally, Jefferies downgraded the stock from Buy to Hold and lowered its price target from $49 to $18.
Portfolio Pulse from Benzinga Newsdesk
Enanta Pharmaceuticals reported Q3 financial results, which led to a decrease in its share price. Jefferies also downgraded the stock from Buy to Hold and lowered its price target from $49 to $18.
August 08, 2023 | 5:14 pm
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NEGATIVE IMPACT
Enanta Pharmaceuticals' shares are expected to be negatively impacted in the short term due to poor Q3 results and Jefferies' downgrade.
The company's Q3 financial results were not favorable, leading to a decrease in its share price. Additionally, Jefferies, a significant market influencer, downgraded the stock from Buy to Hold and lowered its price target significantly from $49 to $18. This indicates a lack of confidence in the company's short-term performance, which is likely to negatively impact the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100