UBS analyst Eliana Merle has maintained their bullish stance on ETNB stock, giving a Buy rating on September 15.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Eliana Merle’s rating is based on the strategic acquisition of 89bio by Roche, which underscores the increasing interest in the MASH field. The acquisition deal, valued at approximately $3.5 billion, reflects a significant premium over 89bio’s previous stock price, indicating strong confidence in the company’s future potential.
Moreover, the MASH market is seen as a large and expanding opportunity, with the FGF21 class being highlighted as a particularly promising area of development. Eliana Merle notes the compelling profile of FGF21s, especially in advanced stages of MASH, and projects substantial sales growth for pegozafermin by 2035. Despite some concerns about the valuation and competition from other companies like AKRO, the long-term potential and market size for FGF21s support the Buy rating.
In another report released on September 15, H.C. Wainwright also maintained a Buy rating on the stock with a $32.00 price target.