Analyst Confidence Soars for 89bio Despite Lengthy Clinical Pathway

While 89bio continues to advance its key Phase 3 trial for its flagship drug candidate, Pegozafermin, the company has received a significant vote of confidence from the investment bank H.C. Wainwright. The firm has initiated coverage with a Buy rating and a price target of $32, betting on the therapy’s long-term potential. This optimistic outlook from analysts raises the question of whether investor enthusiasm can be sustained through the anticipated 2027 wait for pivotal data.

Beyond the analyst excitement, 89bio is strengthening its internal team for the final development push. The company recently secured three new employees with stock option packages collectively worth over 64,000 shares. This move, which includes a four-year vesting period, is viewed as a strategic effort to align Read more...