Enanta price target lowered to $21 from $25 at Oppenheimer

Oppenheimer lowered the firm’s price target on Enanta to $21 from $25 and keeps an Outperform rating on the shares following quarterly results. The firm notes that Enanta initiated Phase 2a challenge study of EDP-323 in RSV, and expects data in Q3 2024. EDP-938 meanwhile continues in two Phase 2 trials for high-risk adults and pediatric RSV patients, and Oppenheimer expects data for at least one study in Q3 2024. Lower FY24 OpEx guidance reflects Enanta’s R&D portfolio prioritization and efficient capital allocation, says the firm.