Enanta price target lowered to $23 from $42 at JMP Securities

JMP Securities analyst Roy Buchanan lowered the firm’s price target on Enanta to $23 from $42 and keeps an Outperform rating on the shares. Enanta reported Q4 results ahead of consensus estimates, largely on contained R&D spending, but announced that it has paused its combined RSV/hMPV inhibitor program given it has two ongoing RSV programs, the analyst tells investors in a research note. The Phase 2a RSVPEDs and RSVHR trials continue to enroll, with one or both potentially reading out in 3Q24 if the RSV season is “normal” in the Northern Hemisphere, the firm notes.