H.C. Wainwright Backs 89bio (ETNB) with Buy Rating

89bio, Inc. (NASDAQ:ETNB) is one of the Top 10 Stocks Under $10 That Could Triple. On September 4, H.C. Wainwright started coverage of 89bio, Inc. (NASDAQ:ETNB) with a Buy rating and a price target of $32.

The firm sees strong potential in 89bio, Inc.’s (NASDAQ:ETNB) lead candidate,pegozafermin, which is an FGF21 analog that imitates an endocrine hormone primarily expressed in the liver and has benefits for obesity and metabolic regulation.

H.C. Wainwright Backs 89bio (ETNB) with Buy Rating

89bio, Inc.’s (NASDAQ:ETNB) pegozafermin is now moving into several Phase 3 trials for different liver conditions. These include the ENTRUST trial for severe hypertriglyceridemia, where topline data is expected to be released in Q1 2026. The ENLIGHTEN Fibrosis trial for fibrosis stage F2-F3 is expected to deliver data in the first half of 2027. The ENLIGHTEN Cirrhosis trial for compensated cirrhosis (F4) is set to release data in 2028.

H.C. Wainwright pointed out that Phase 2B results were promising, showing significant improvement in fibrosis without worsening metabolic dysfunction-associated steatohepatitis (MASH) at Week 24. The data also showed reduced liver fat and improvements in biomarkers of liver injury and inflammation.

The firm further noted that pegozafermin showed safety and tolerability with lower rates of gastrointestinal side effects and no major clinical changes in bone biomarkers or bone mineral density.

89bio, Inc. (NASDAQ:ETNB) is a clinical-stage biopharmaceutical company focused on developing therapies for liver and cardio-metabolic diseases.

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Disclosure: None. This article is originally published at Insider Monkey.