Cantor Fitzgerald raised the firm’s price target on 89bio to $45 from $34 and keeps an Overweight rating on the shares. On Wednesday, 89bio announced positive Phase 2b ENLIVEN data for its lead candidate pegozafermin in nonalcoholic steatohepatitis, and the firm believes the study supports moving into a Phase 3 study, the analyst tells investors in a research note. The firm thinks the three pathologist approach strengthens the dataset, and could mitigate any uncertainties around a Phase 3 trial.
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