89bio initiated with a Neutral at Goldman Sachs

Goldman Sachs initiated coverage of 89bio (ETNB) with a Neutral rating and $11 price target 89bio is a late-stage clinical company focused on liver and cardiometabolic diseases, the analyst tells investors in a research note. While positive into the upcoming data reads on the back of “compelling” Phase 2 data and mechanistic rationale, the firm is on the sidelines ahead of the Phase 3 ENLIGHTEN-Fibrosis data in F2/F3 f non-alcoholic steatohepatitis where it believes greater clarity on pegozafermin’s clinical profile is needed.