Enanta price target lowered to $42 from $65 at JMP Securities

JMP Securities analyst Roy Buchanan lowered the firm’s price target on Enanta to $42 from $65 and keeps an Outperform rating on the shares following the Q3 results. The firm likes Enanta’s differentiated pipeline, but sees a disconnect between the agents that have the best data and possibly the market’s and management’s enthusiasm, the analyst tells investors in a research note.