Oppenheimer analyst Jay Olson raised the firm’s price target on 89bio to $33 from $18 and keeps an Outperform rating on the shares. The analyst views the Phase 2b ENLIVEN topline results of pegozafermin in nonalcoholic steatohepatitis patients as "impressive and highly competitive," with both weekly and every-two-week doses achieving statistical significant improvements on both NASH resolution and fibrosis improvement versus placebo with a favorable safety profile. The firm also views the efficacy in F4 patients as "impressive and validating." It sees "best-in-class potential" for pegozafermin as an FGF21 analog.
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