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89bio assumed with an Overweight at Cantor Fitzgerald

Cantor Fitzgerald assumed coverage of 89bio (ETNB) with an Overweight rating and $58 price target. Cantor tells investors in a research note that FGF21 is the best mechanism in metabolic dysfunction-associated steatohepatitis, given the likelihood of success in cirrhosis in contrast to other mechanisms, best-in-MASH histologic effect in non-cirrhotic MASH, as well as complementarity to GLP-1s, which are likely to become standard of care in non-cirrhotic MASH. The firm says 89bio and Akero (AKRO) are the furthest advanced among FGF21s.

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