89bio, Inc. Price & Performance (ETNB)

89bio has bolstered its financial position with $727.5 million, including a recent follow-on offering. The funds will support advanced Phase 3 trials for its liver and cardiometabolic drug candidate, pegozafermin. With significant cash reserves, the company is prioritizing trial integrity, though commercialization timelines are years away.12

Despite a recent dip, analysts maintain a bullish outlook on 89bio, with price targets as high as $37. The company's strong cash position and advancements in Phase 3 trials for NASH and severe hypertriglyceridemia are driving optimism, though competition in the field remains a key challenge.34

PNC Financial Services and other institutions have increased their holdings in 89bio. The biopharma company is progressing with three Phase 3 trials for its lead candidate, pegozafermin, targeting liver and metabolic diseases. With a solid liquidity position, the company is attracting attention despite its ongoing cash burn.45