- Earlier today, 89bio Inc (NASDAQ:ETNB) concluded enrollment in ENLIVEN Phase 2b trial of pegozafermin for non-alcoholic steatohepatitis (NASH), enabling topline results in 1Q23.
- The trial enrolled 219 patients who will receive either one of two weekly doses (15mg or 30mg) or an every two-week dose (44mg) of pegozafermin or placebo for 24 weeks.
- SVB says that ENLIVEN study enrolled in a similar timeframe to competitor Akero Therapeutics Inc’s (NASDAQ:AKRO) Phase 2b HARMONY trial for FGF21 analog efruxifermin (~14 months vs. ~12 months, respectively), despite ENLIVEN enrolling ~70% more patients vs. HARMONY.
- Related: This Analyst Thinks 89Bio’s Pegozafermin Data Has Exceeded Expectations.
- SVB sees compelling value in ETNB, particularly relative to competitor AKRO, which trades at ~2.8x ETNB’s valuation with pegoza well-positioned as a potentially best-in-class FGF21 analog based on competitive efficacy profile and emerging differentiation on safety/tolerability and dosing frequency.
- HC Wainwright remains confident in a robustly positive readout based on the positive topline results from the 13-week Phase 1b study.
- The analyst raised the price target from $26 to $27 with a Buy rating.
- Price Action: ETNB shares are up 8.65% at $5.85 on the last check Thursday.
Analyst Expectations for Hershey’s Future
Over the past 3 months, 5 analysts have published their opinion on Hershey (NYSE:HSY) stock. These analysts are…
