Leerink Partners analyst Thomas Smith has reiterated their bullish stance on ETNB stock, giving a Buy rating on April 29.
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Thomas Smith has given his Buy rating due to a combination of factors that highlight 89bio’s strong position in the biopharmaceutical sector. The company has reaffirmed its clinical data timelines for its lead asset, pegozafermin, which is being developed for NASH and severe hypertriglyceridemia. The Phase 3 trials for NASH are progressing as planned, with patient screening and enrollment actively occurring across multiple countries, indicating robust operational execution.
Additionally, the potential of pegozafermin as a best-in-class treatment is underscored by its competitive efficacy and favorable safety profile. The interest in the FGF21 mechanism, which pegozafermin targets, is growing among clinicians and patients, further supporting its market potential. The anticipated data from ongoing trials and the promising outlook for the FGF21 class of treatments contribute to the positive sentiment around 89bio’s stock.
In another report released on April 29, Cantor Fitzgerald also initiated coverage with a Buy rating on the stock with a $58.00 price target.