89bio downgraded to Peer Perform from Outperform at Wolfe Research

Wolfe Research analyst Andy Chen downgraded 89bio (ETNB) to Peer Perform from Outperform without a price target after the company entered into an agreement to be acquired by Roche (RHHBY) for $14.50 per share in cash, plus a non-tradeable contingent value right to receive certain milestone payments of up to an aggregate of $6.00 per share in cash.