H.C. Wainwright analyst Ed Arce raised the firm’s price target on 89bio to $30 from $25 and keeps a Buy rating on the shares after increasing its view on the odds of success in NASH to 65% from 50% previously on the strength of the top-line 24-week results of the Phase 2b ENLIVEN trial of pegozafermin. Given the "unique optionality" of once every 2 weeks dosing, which the firm views as a key point of competitive differentiation among injectables, it describes the ENLIVEN results as "a big win across the board for 89bio."
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