89bio $ETNB stock continued in an uptrend on November 14, 2022, as Cantor Fitzgerald predicts a 350% move higher in the stock is coming.
Dark Pool Trade in 89bio
A dark pool trade occurred in 89bio $ETNB stock on October 14, 2022. The unusual dark pool trade was valued at $20 million. We think the dark pool trade was buying because of how $ETNB stock rose following the trade hitting the tape.
89bio price target raised at Cantor Fitzgerald
On November 14, 2022, Kristen Kluska, a Cantor Fitzgerald analyst, raised the price target on 89bio stock to $34 from $27 and kept an Overweight rating on the shares. Kristen Kluska said that 89bio is one of the best stocks to buy now. Should the data be positive, she believes it will lead to a valuation gap close with Akero.
89bio price target lowered at RBC Capital
On November 11, 2022, RBC Capital analyst Brian Abrahams lowered the price target on 89bio to $29 from $35 but kept an Outperform rating on the shares after its Q3 results. The quarter saw continued progress for both SHTG and NASH programs, with top-line NASH data expected in the first quarter of 2023. The potential of pegoza in showing histological benefit in NASH is supported by Akero Therapeutics, which has showed a robust histological benefit of FGF21 class and interim post-hoc analyses of pegoza.
CEO Rohan Palekar
“We are pleased with the progress across our late-stage clinical development program for pegozafermin and believe we are well positioned to achieve multiple value-driving milestones,” said Rohan Palekar, Chief Executive Officer of 89bio. “We successfully completed enrollment in our Phase 2b ENLIVEN trial in NASH and expect to report topline data in the first quarter of 2023. Additionally, we look forward to initiating our Phase 3 SHTG program in the first half of 2023, pending our meeting with the FDA in the fourth quarter of 2022.”
89bio Stock Technical Analysis
89bio $ETNB stock is in a technical strong uptrend. Long-term indicators suggest a continuation of the uptrend. The stock is trading within an uptrend channel with an improving MACD and positive money flow.