Over a week ago
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05/23/23 89bio initiates Phase 3 ENTRUST trial of pegozafermin 03/22/23 89bio up 47% to $16.10 after announcing positive pegozafermin trial data 03/22/23 89bio's pegozafermin trial statistically significant in critical histology 03/05/23 89bio presents new analysis of data from Phase 2 ENTRIGUE trial of pegozafermin 05/08/23 H.C. Wainwright 89bio price target raised to $35 from $30 at H.C. Wainwright 05/05/23 Cantor Fitzgerald 89bio price target raised to $41 from $40 at Cantor Fitzgerald 03/26/23 BofA 89bio price target raised to $24 from $17 at BofA 03/23/23 Morgan Stanley Morgan Stanley stays Overweight Akero Therapeutics after 89bio data in NASH 05/04/23 89bio reports Q1 EPS (54c), consensus (52c) 03/10/23 89bio reports Q4 EPS (48c), consensus (69c)
Hot Stocks
89bio announced the…
89bio announced the initiation of ENTRUST, a Phase 3 trial evaluating the efficacy, safety and tolerability of pegozafermin in patients with severe hypertriglyceridemia. "We are pleased to initiate the ENTRUST trial of pegozafermin in SHTG, an important milestone for the company that demonstrates the rapid progress we have made since inception, and also signifies entry of the first FGF21 analog into Phase 3 development," said Hank Mansbach, Chief Medical Officer of 89bio. "We believe results from our previous trials in SHTG suggest a potentially favorable risk/benefit profile for pegozafermin as demonstrated through robust reductions in triglycerides, broad metabolic improvements including reductions in liver fat, as well as favorable safety and tolerability. We remain encouraged by pegozafermin's unique and differentiated profile relative to existing therapies and those in development to treat SHTG. Additionally, we believe there are opportunities for development synergies within our pegozafermin program and plan to leverage the safety database from the SHTG Phase 3 program to optimize clinical advancement in non-alcoholic steatohepatitis."
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03/22/23 89bio up 47% to $16.10 after announcing positive pegozafermin trial data 03/22/23 89bio's pegozafermin trial statistically significant in critical histology 03/05/23 89bio presents new analysis of data from Phase 2 ENTRIGUE trial of pegozafermin 12/12/22 89bio announces publication of Phase 1b/2a pegozafermin study results 05/08/23 H.C. Wainwright 89bio price target raised to $35 from $30 at H.C. Wainwright 05/05/23 Cantor Fitzgerald 89bio price target raised to $41 from $40 at Cantor Fitzgerald 03/26/23 BofA 89bio price target raised to $24 from $17 at BofA 03/23/23 Morgan Stanley Morgan Stanley stays Overweight Akero Therapeutics after 89bio data in NASH 05/04/23 89bio reports Q1 EPS (54c), consensus (52c) 03/10/23 89bio reports Q4 EPS (48c), consensus (69c)
Recommendations
H.C. Wainwright analyst…
H.C. Wainwright analyst Ed Arce raised the firm's price target on 89bio to $35 from $30 and keeps a Buy rating on the shares. The company announced that the first of two Phase 3 trials of pegozafermin for the treatment of severe hypertriglyceridemia is on target to initiate in Q2, the analyst tells investors in a research note. The firm says 89bio is one of its 2023 top picks.
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03/22/23 89bio up 47% to $16.10 after announcing positive pegozafermin trial data 03/22/23 89bio's pegozafermin trial statistically significant in critical histology 03/05/23 89bio presents new analysis of data from Phase 2 ENTRIGUE trial of pegozafermin 12/12/22 89bio announces publication of Phase 1b/2a pegozafermin study results 05/05/23 Cantor Fitzgerald 89bio price target raised to $41 from $40 at Cantor Fitzgerald 03/26/23 BofA 89bio price target raised to $24 from $17 at BofA 03/23/23 Morgan Stanley Morgan Stanley stays Overweight Akero Therapeutics after 89bio data in NASH 03/22/23 Oppenheimer 89bio price target raised to $33 from $18 at Oppenheimer 05/04/23 89bio reports Q1 EPS (54c), consensus (52c) 03/10/23 89bio reports Q4 EPS (48c), consensus (69c) 11/10/22 89bio reports Q3 EPS (57c), consensus (80c)
Recommendations
Cantor Fitzgerald analyst…
Cantor Fitzgerald analyst Kristen Kluska raised the firm's price target on 89bio to $41 from $40 and keeps an Overweight rating on the shares after reporting Q1 results. After reporting its Phase 2b ENLIVEN data recently, investors have remained engaged on 89bio and have asked what is next for the company, the analyst tells investors. In the near-term, the company has said it might engage in regulatory discussions for NASH in the second half of the year and has also guided it will initiate the first of two Phase 3 trials for pegozafermin in Q2. Investors should remain focused on the stock as more incremental updates and presentations are expected this year, Cantor Fitzgerald says.
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03/22/23 89bio up 47% to $16.10 after announcing positive pegozafermin trial data 03/22/23 89bio's pegozafermin trial statistically significant in critical histology 03/05/23 89bio presents new analysis of data from Phase 2 ENTRIGUE trial of pegozafermin 12/12/22 89bio announces publication of Phase 1b/2a pegozafermin study results 03/26/23 BofA 89bio price target raised to $24 from $17 at BofA 03/23/23 Morgan Stanley Morgan Stanley stays Overweight Akero Therapeutics after 89bio data in NASH 03/22/23 Oppenheimer 89bio price target raised to $33 from $18 at Oppenheimer 03/22/23 H.C. Wainwright 89bio price target raised to $30 from $25 at H.C. Wainwright 05/04/23 89bio reports Q1 EPS (54c), consensus (52c) 03/10/23 89bio reports Q4 EPS (48c), consensus (69c) 11/10/22 89bio reports Q3 EPS (57c), consensus (80c)
Over a month ago
Earnings
As of March 31, 89bio had…
As of March 31, 89bio had cash, cash equivalents, and short-term investments totaling $480.9M.
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03/22/23 89bio up 47% to $16.10 after announcing positive pegozafermin trial data 03/22/23 89bio's pegozafermin trial statistically significant in critical histology 03/05/23 89bio presents new analysis of data from Phase 2 ENTRIGUE trial of pegozafermin 12/12/22 89bio announces publication of Phase 1b/2a pegozafermin study results 03/26/23 BofA 89bio price target raised to $24 from $17 at BofA 03/23/23 Morgan Stanley Morgan Stanley stays Overweight Akero Therapeutics after 89bio data in NASH 03/22/23 Oppenheimer 89bio price target raised to $33 from $18 at Oppenheimer 03/22/23 H.C. Wainwright 89bio price target raised to $30 from $25 at H.C. Wainwright 03/10/23 89bio reports Q4 EPS (48c), consensus (69c) 11/10/22 89bio reports Q3 EPS (57c), consensus (80c)
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03/22/23 89bio up 47% to $16.10 after announcing positive pegozafermin trial data 03/22/23 89bio's pegozafermin trial statistically significant in critical histology 03/05/23 89bio presents new analysis of data from Phase 2 ENTRIGUE trial of pegozafermin 12/12/22 89bio announces publication of Phase 1b/2a pegozafermin study results 03/26/23 BofA 89bio price target raised to $24 from $17 at BofA 03/23/23 Morgan Stanley Morgan Stanley stays Overweight Akero Therapeutics after 89bio data in NASH 03/22/23 Oppenheimer 89bio price target raised to $33 from $18 at Oppenheimer 03/22/23 H.C. Wainwright 89bio price target raised to $30 from $25 at H.C. Wainwright 03/10/23 89bio reports Q4 EPS (48c), consensus (69c) 11/10/22 89bio reports Q3 EPS (57c), consensus (80c)
Options
Bullish option flow…
Bullish option flow detected in 89bio with 2,014 calls trading, 1.3x expected, and implied vol increasing almost 3 points to 66.31%. Apr-23 17.5 calls and Apr-23 15 calls are the most active options, with total volume in those strikes near 1,500 contracts. The Put/Call Ratio is 0.14. Earnings are expected on May 10th.
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03/22/23 89bio up 47% to $16.10 after announcing positive pegozafermin trial data 03/22/23 89bio's pegozafermin trial statistically significant in critical histology 03/05/23 89bio presents new analysis of data from Phase 2 ENTRIGUE trial of pegozafermin 12/12/22 89bio announces publication of Phase 1b/2a pegozafermin study results 03/26/23 BofA 89bio price target raised to $24 from $17 at BofA 03/23/23 Morgan Stanley Morgan Stanley stays Overweight Akero Therapeutics after 89bio data in NASH 03/22/23 Oppenheimer 89bio price target raised to $33 from $18 at Oppenheimer 03/22/23 H.C. Wainwright 89bio price target raised to $30 from $25 at H.C. Wainwright 03/10/23 89bio reports Q4 EPS (48c), consensus (69c) 11/10/22 89bio reports Q3 EPS (57c), consensus (80c)
On The Fly
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03/22/23 Petco falls 7% to $9.44 after Q4 results, FY23 guidance 03/22/23 Freshpet, Petco announce delivery partnership 03/22/23 Petco expects to make $100M in principal payments on term loan in FY23 03/22/23 Petco sees FY23 CapEx $225M-$250M 03/28/23 SL Green signs full floor lease with Palo Alto Networks at One Madison Avenue 03/20/23 S&P announces changes to S&P 400, 600 indices at open on 3/20 02/16/23 Caesars expands rewards parntershipi with SL Green Realty in New York 03/27/23 Berkshire Hathaway acquires over 4.4M Occidental shares 03/16/23 Berkshire Hathaway buys 7.9M shares of Occidental Petroleum for $466.68M 03/07/23 1PointFive, Houston Astros announce direct air capture carbon removal agreement 03/02/23 1PointFive announces plan to develop a carbon capture, sequestration hub 03/29/23 Kohl's CEO buys $2.02M in common stock 03/22/23 Kohl's announces locations of 250 new Sephora at Kohl's opening this year 02/28/23 Kohl's appoints Dave Alves COO 02/09/23 Kohl's names Nick Jones Chief Merchandising and Digital Officer 03/28/23 Intra-Cellular: Study 403 of lumateperone met primary endpoint for MDD 02/23/23 FFJ short Intra-Cellular, says users reporting 'particularly toxic side effect' 12/08/22 Intra-Cellular highlights CAPLYRA bipolar depression data $107.21 / -4.145 (-3.72%)
02/20/23 Etsy tells The Fly 'counterfeit items, fraud explicitly prohibited' 02/02/23 Etsy appoints Colin Stretch as Chief Legal Officer and Corporate Secretary 01/10/23 Amazon expands Buy with Prime service, introduces Reviews from Amazon 11/09/22 Etsy director sells $1.72M in common stock 03/22/23 89bio up 47% to $16.10 after announcing positive pegozafermin trial data 03/22/23 89bio's pegozafermin trial statistically significant in critical histology 03/05/23 89bio presents new analysis of data from Phase 2 ENTRIGUE trial of pegozafermin 12/12/22 89bio announces publication of Phase 1b/2a pegozafermin study results 03/21/23 DexCom announces expanded coverage for G6 CGM System in Manitoba 03/13/23 DexCom has no material exposure to developments at Silicon Valley Bank 03/06/23 DexCom down more than 7% after FDA gives nod to Abbott CGM sensors 03/02/23 DexCom CEO sells $4.23M in common stock 03/31/23 Raymond James Occidental Petroleum price target lowered to $75 from $80 at Raymond James 03/28/23 TD Cowen Occidental Petroleum upgraded to Outperform from Market Perform at TD Cowen 03/27/23 Morgan Stanley Occidental Petroleum price target lowered to $62 from $71 at Morgan Stanley 03/17/23 Barclays Occidental Petroleum price target raised to $78 from $70 at Barclays 04/03/23 BMO Capital SL Green Realty upgraded to Outperform from Market Perform at BMO Capital 03/31/23 Morgan Stanley SL Green Realty price target lowered to $21 from $35 at Morgan Stanley 03/27/23 Citi SL Green Realty price target lowered to $17 from $35 at Citi 03/27/23 Evercore ISI SL Green Realty price target lowered to $33 from $38 at Evercore ISI 03/29/23 UBS Kohl's price target lowered to $16 from $18 at UBS 03/02/23 Deutsche Bank Kohl's price target lowered to $31 from $34 at Deutsche Bank 03/02/23 Citi Kohl's price target lowered to $26 from $29 at Citi 03/02/23 Morgan Stanley Kohl's assumed with an Underweight at Morgan Stanley 03/29/23 BofA Petco price target lowered to $14.50 from $18 at BofA 03/23/23 Evercore ISI Petco price target lowered to $10 from $12 at Evercore ISI 03/23/23 RBC Capital Petco price target lowered to $10 from $14 at RBC Capital 03/23/23 Morgan Stanley PetMed Express price target lowered to $17 from $18 at Morgan Stanley 03/29/23 UBS DexCom initiated with a Buy at UBS 03/28/23 UBS DexCom initiated with a Buy at UBS 03/27/23 Jefferies DexCom Q1 report can be a catalyst for shares, says Jefferies 03/08/23 Jefferies DexCom pullback on Abbott news a buying opportunity, says Jefferies 03/26/23 BofA 89bio price target raised to $24 from $17 at BofA 03/23/23 Morgan Stanley Morgan Stanley stays Overweight Akero Therapeutics after 89bio data in NASH 03/22/23 Oppenheimer 89bio price target raised to $33 from $18 at Oppenheimer 03/22/23 H.C. Wainwright 89bio price target raised to $30 from $25 at H.C. Wainwright $107.21 / -4.145 (-3.72%)
04/04/23 Piper Sandler Etsy upgraded to Overweight from Neutral at Piper Sandler 03/24/23 Evercore ISI Etsy price target lowered to $140 from $153 at Evercore ISI 03/09/23 Jefferies Etsy downgraded to Underperform from Buy at Jefferies 02/23/23 Truist Etsy price target raised to $150 from $125 at Truist 03/29/23 Cantor Fitzgerald Intra-Cellular price target raised to $87 from $83 at Cantor Fitzgerald 03/29/23 BofA Intra-Cellular price target raised to $63 from $62 at BofA 03/29/23 Mizuho Intra-Cellular price target raised to $74 from $66 at Mizuho 03/28/23 Canaccord Intra-Cellular price target raised to $98 from $93 at Canaccord 03/22/23 Petco sees FY23 revenue $6.15B-$6.275B, consensus $6.36B 03/22/23 Petco reports Q4 adjusted EPS 23c, consensus 24c 03/21/23 Notable companies reporting before tomorrow's open 01/25/23 SL Green Realty reports Q4 FFO $1.46, consensus $1.66 12/05/22 SL Green Realty affirms FY22 FFO per share of $6.70-$7.00, consensus $6.69 12/05/22 SL Green Realty sees FY23 FFO per share of $5.30-$5.60, consensus $6.12 10/19/22 SL Green Realty reports Q3 FFO $1.66, consensus $1.64 02/27/23 Occidental Petroleum reports Q4 adjusted EPS $1.61, consensus $1.81 11/08/22 Occidental Petroleum reports Q3 adjusted EPS $2.44, consensus $2.46 03/01/23 Kohl's sees FY23 EPS $2.10-$2.70, consensus $2.99 03/01/23 Kohl's reports Q4 adjusted EPS ($2.49), consensus 98c 02/28/23 Notable companies reporting before tomorrow's open 03/01/23 Intra-Cellular reports Q4 EPS (45c), consensus (59c) 11/03/22 Intra-Cellular reports Q3 EPS (57c), consensus (81c) $107.21 / -4.145 (-3.72%)
02/22/23 Etsy Sees Q1 revenue $600M-$640M, consensus $621.61M 02/22/23 Etsy reports Q4 EPS 77c, consensus 80c 02/22/23 Notable companies reporting after market close 11/02/22 Etsy sees Q4 revenue 700M-$780M, consensus $742.04M 03/10/23 89bio reports Q4 EPS (48c), consensus (69c) 11/10/22 89bio reports Q3 EPS (57c), consensus (80c) 02/09/23 DexCom sees FY23 revenue of $3.35B-$3.49B, consensus $3.47B 02/09/23 DexCom reports Q4 EPS 22c, consensus 27c 02/09/23 Notable companies reporting after market close 01/09/23 DexCom sees Q revenue $2.91B, consensus $2.9B
Recommendations
BofA analyst Tazeen Ahmad…
BofA analyst Tazeen Ahmad raised the firm's price target on 89bio to $24 from $17 and keeps a Buy rating on the shares. With additional cash infusion following an upsized secondary offering netting greater than $260M, by the firm's estimates, and additional color on the ENLIVEN study following the investor call, BofA is more comfortable with 89Bio's NASH program, it said in a research note on Friday.
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03/22/23 89bio up 47% to $16.10 after announcing positive pegozafermin trial data 03/22/23 89bio's pegozafermin trial statistically significant in critical histology 03/05/23 89bio presents new analysis of data from Phase 2 ENTRIGUE trial of pegozafermin 12/12/22 89bio announces publication of Phase 1b/2a pegozafermin study results 03/23/23 Morgan Stanley Morgan Stanley stays Overweight Akero Therapeutics after 89bio data in NASH 03/22/23 Oppenheimer 89bio price target raised to $33 from $18 at Oppenheimer 03/22/23 H.C. Wainwright 89bio price target raised to $30 from $25 at H.C. Wainwright 03/22/23 Raymond James Raymond James doubles 89bio price target to $50 after FGF21 'wins again' 03/10/23 89bio reports Q4 EPS (48c), consensus (69c) 11/10/22 89bio reports Q3 EPS (57c), consensus (80c)
Syndicate
The deal size was…
The deal size was increased to $275M from $200M and priced below last closing price of $16.94. BofA, SVB Securities and Evercore ISI are acting as joint book running managers for the offering.
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03/22/23 89bio up 47% to $16.10 after announcing positive pegozafermin trial data 03/22/23 89bio's pegozafermin trial statistically significant in critical histology 03/05/23 89bio presents new analysis of data from Phase 2 ENTRIGUE trial of pegozafermin 12/12/22 89bio announces publication of Phase 1b/2a pegozafermin study results 03/23/23 Morgan Stanley Morgan Stanley stays Overweight Akero Therapeutics after 89bio data in NASH 03/22/23 Oppenheimer 89bio price target raised to $33 from $18 at Oppenheimer 03/22/23 H.C. Wainwright 89bio price target raised to $30 from $25 at H.C. Wainwright 03/22/23 Raymond James Raymond James doubles 89bio price target to $50 after FGF21 'wins again' 03/10/23 89bio reports Q4 EPS (48c), consensus (69c) 11/10/22 89bio reports Q3 EPS (57c), consensus (80c)
