Wolfe Research Downgrades 89bio Inc. (ETNB) to Peerperform

Wolfe Research analyst Andy Chen downgraded 89bio Inc. (NASDAQ: ETNB) from Outperform to Peerperform.

The analyst comments: "We don't foresee any disruptions to the deal and with the acquisition now priced into the stock, we don't expect ETNB to have any major stock movement. We see low odds of anti-trust concerns given Roche's lack of presence in NASH and expect the deal to go through. We assume unanimous board approval and that shareholders will be satisfied given the premium relative to Boston Pharma's takeout price of $2B. We see low likelihood of another buyer emerging. Fair value $14.50/sh to $20.50/sh."

For an analyst ratings summary and ratings history on 89bio Inc. click here. For more ratings news on 89bio Inc. click here.

Shares of 89bio Inc. closed at $14.96 yesterday.

You May Also Be Interested In

• Correction: Kepler Cheuvreux Upgrades Siemens AG (SIE:GR) (SIEGY) to Hold
• ​Trump said he was unaware of his earnings from crypto
• Deutsche Bank Resumes Kloeckner & Co SE (KCO:GR) at Hold