BTIG analyst Justin Zelin raised the firm’s price target on 89bio (ETNB) to $37 from $30 and keeps a Buy rating on the shares. Following 89bio’s positive results from the Phase 2b ENLIVEN study earlier this year, the company’s updates at EASL demonstrated consistent and significant benefits in achieving fibrosis improvement across key subgroups, the analyst tells investors in a research note. Pegozafermin’s comparable efficacy, an attractive safety and tolerability profile, pleiotropic metabolic benefits, and convenient Q2W dosing offer a strong competitor to Akero’s (AKRO) Efruxifermin, the firm added.
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