BUZZ-Citi initiates coverage on 89bio with 'buy' rating on potential for MASH therapy

Reuters03-13

** Brokerage Citi initiates coverage on 89bio ETNB.O with "buy" rating

** Brokerage sets PT at $25, representing a near triple upside to the stock's last close

** Citi remains optimistic about co's experimental drug, pegozafermin, for patients with a type of fatty liver disease known as metabolic dysfunction-associated steatohepatitis (MASH)

** "If 89bio can replicate its early results of pegozafermin in larger trials and show a synergistic effect when used in combination of GLP-1s, pegozafermin could become a significant player in the MASH space", says Citi

** Eight of 9 brokerages rate the stock "buy" or higher, 1 "hold"; their median PT is $29.67, according to data compiled by LSEG

** Up to last close, ETNB has fallen 35.1% in the past 12 months

(Reporting by Siddhi Mahatole)

((siddhi.mahatole@thomsonreuters.com))

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