89bioNASDAQ: ETNB

89bio is a clinical-stage biopharmaceutical company that develops therapies for liver and cardiometabolic conditions. Their drug candidate, pegozafermin, has shown positive results in reducing liver fat and insulin resistance and is in phase 3 trials for metabolic dysfunction-associated steatohepatitis (MASH) and severe hypertriglyceridemia (SHTG). Pegozafermin has the potential to tap into a large market and has been granted FDA Breakthrough Therapy designation for treating MASH with fibrosis.

-Poster presentation selected for the EASL Poster Tour, a dedicated discussion session- -Poster presentation selected for the EASL Poster Tour, a dedicated discussion session-

The upgrade of 89BIO (ETNB) to a Zacks Rank #2 (Buy) indicates increasing confidence in the company's potential earnings, which could result in a boost in the stock price in the short run.

The average of price targets set by Wall Street analysts indicates a potential upside of 121.5% in 89BIO (ETNB). While the effectiveness of this highly sought-after metric is questionable, the positive trend in earnings estimate revisions might translate into an upside in the stock.

After reaching an important support level, 89BIO (ETNB) could be a good stock pick from a technical perspective. ETNB surpassed resistance at the 200-day moving average, suggesting a long-term bullish trend.

89bio, Inc.'s successful end-of-phase 2 meeting with the FDA gained alignment for Potential Accelerated Approval of pegozafermin; such studies to be advanced are ENLIGHTEN-Cirrhosis and ENLIGHTEN-Fibrosis. Akero will report 96-week data from the SYMMETRY study of efruxifermin for F4 NASH patients in Q1 of 2024; Success for Akero could mean a boost in value for 89bio. The non-alcoholic steatohepatitis market size is projected to reach $24.26 billion by 2028.

89bio, Inc. stock dropped along with other NASH players after Akero's efruxifermin failed a phase 2 trial. Despite the drop, 89bio remains attractive with excellent phase 2 data and strong financials. 89bio's pegozafermin has shown positive results in reducing fibrosis and liver fat, and there is still potential for FGF21 molecules in the NASH field.

SAN FRANCISCO, Oct. 17, 2023 (GLOBE NEWSWIRE) -- 89bio, Inc. (Nasdaq: ETNB), a clinical-stage biopharmaceutical company focused on the development and commercialization of innovative therapies for the treatment of liver and cardio-metabolic diseases, today announced that the Company's Management will participate in a fireside chat and one-on-one investor meetings at the H.C. Wainwright 7th Annual NASH Investor Conference being held on Tuesday, October 24, 2023.

89bio is a clinical-stage biotech company. It focuses on treatments for liver and cardiometabolic diseases.