HC Wainwright restated their buy rating on shares of 89bio (NASDAQ:ETNB - Free Report) in a report released on Friday,Benzinga reports. HC Wainwright currently has a $21.00 price target on the stock, down from their prior price target of $29.00.
A number of other equities research analysts also recently issued reports on ETNB. Raymond James raised shares of 89bio to a "strong-buy" rating in a report on Thursday, December 12th. UBS Group increased their target price on shares of 89bio from $25.00 to $38.00 and gave the stock a "buy" rating in a research note on Friday, January 31st. Cantor Fitzgerald restated an "overweight" rating and set a $29.00 price target on shares of 89bio in a research report on Thursday, January 2nd. Wolfe Research started coverage on 89bio in a research report on Tuesday, February 4th. They issued an "outperform" rating on the stock. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of 89bio in a research note on Wednesday, February 19th. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $30.29.
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89bio Stock Performance
ETNB stock traded down $0.35 during midday trading on Friday, reaching $8.88. 1,823,598 shares of the company's stock traded hands, compared to its average volume of 2,615,853. 89bio has a 52 week low of $5.99 and a 52 week high of $16.63. The company has a 50-day moving average price of $8.77 and a two-hundred day moving average price of $8.48. The company has a debt-to-equity ratio of 0.09, a quick ratio of 11.66 and a current ratio of 11.66. The firm has a market capitalization of $942.40 million, a PE ratio of -3.05 and a beta of 1.17.
89bio (NASDAQ:ETNB - Get Free Report) last released its quarterly earnings data on Thursday, March 6th. The company reported ($1.02) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.60) by ($0.42). As a group, equities analysts anticipate that 89bio will post -3.19 EPS for the current year.
Insider Buying and Selling at 89bio
In other news, CEO Rohan Palekar acquired 5,000 shares of 89bio stock in a transaction dated Friday, December 6th. The shares were purchased at an average cost of $7.89 per share, for a total transaction of $39,450.00. Following the transaction, the chief executive officer now owns 471,236 shares of the company's stock, valued at $3,718,052.04. This trade represents a 1.07 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Quoc Le-Nguyen sold 10,963 shares of the business's stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $6.49, for a total value of $71,149.87. Following the completion of the sale, the insider now owns 271,833 shares of the company's stock, valued at $1,764,196.17. The trade was a 3.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have bought 5,734,285 shares of company stock worth $50,152,194 over the last 90 days. Corporate insiders own 2.80% of the company's stock.
Institutional Investors Weigh In On 89bio
Institutional investors have recently made changes to their positions in the business. Avoro Capital Advisors LLC bought a new stake in 89bio in the fourth quarter worth $32,062,000. Deep Track Capital LP increased its holdings in shares of 89bio by 134.2% in the fourth quarter. Deep Track Capital LP now owns 6,478,249 shares of the company's stock worth $50,660,000 after buying an additional 3,711,737 shares during the period. Suvretta Capital Management LLC lifted its stake in shares of 89bio by 27.7% in the 4th quarter. Suvretta Capital Management LLC now owns 10,202,696 shares of the company's stock valued at $79,785,000 after acquiring an additional 2,211,052 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in 89bio by 14.2% during the 3rd quarter. Janus Henderson Group PLC now owns 15,158,218 shares of the company's stock valued at $112,140,000 after acquiring an additional 1,882,108 shares during the period. Finally, Balyasny Asset Management L.P. bought a new position in 89bio during the 4th quarter worth approximately $7,972,000.
89bio Company Profile
(
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89bio, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of therapies for the treatment of liver and cardio-metabolic diseases. Its lead product candidate is pegozafermin, a glycoPEGylated analog of fibroblast growth factor 21 for the treatment of nonalcoholic steatohepatitis; and for the treatment of severe hypertriglyceridemia.
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