Biotech Stock Primed for Best Day Ever After Amgen Deal

Amgen and Entera will collaborate on inflammatory disease treatments

Managing Editor
Dec 11, 2018 at 9:22 AM
facebook twitter linkedin

The shares of Entera Bio Ltd. (NASDAQ:ENTX) are up 26.3% in electronic trading, after the biotech name announced a licensing deal with Amgen (AMGN) to collaborate on oral treatments for inflammatory diseases and other serious illnesses. Entera will receive up to $270 million in milestone payments, and will retain all property rights to its oral drug delivery technology.

Today's premarket upside has ENTX stock eyeing its best day ever, and trading near the top of the Nasdaq today. The shares are set to open at their highest point since mid-October, though the shares remain well below Entera Bio's late-June initial public offering (IPO) price of $8 per share.

Analysts have been relatively quiet on the Wall Street newcomer. Currently, only one brokerage firm is covering the stock, rating it a "buy" and maintaining a $12 price target, more than double Monday's closing price of $5.49.


Stop leaving money on the table with the same old broken options trading approach...

There is no options strategy that more perfectly capitalizes during earnings season better than this simple call and put buying strategy. Perfect for aggressive traders looking to recover their suffering portfolios so far in 2022. With the simplest possible options strategy, Schaeffer's team with 100+ years of options trading excellence, target 200% gains on every single trade. So many trades are being beaten down by the market, but don't be one of them! Don't waste another second... join us right now before the next trade is released! 

Schaeffer's Daily Bulletin Offer


Special Offers from Schaeffer's Trading Partners