89bio, Inc. (NASDAQ:ETNB) Receives $30.14 Average PT from Analysts

89bio, Inc. (NASDAQ:ETNB - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the eight research firms that are presently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokers that have covered the stock in the last year is $30.14.

ETNB has been the subject of a number of recent research reports. Cantor Fitzgerald reiterated an "overweight" rating and set a $29.00 price objective on shares of 89bio in a research note on Monday, July 1st. HC Wainwright reiterated a "buy" rating and issued a $29.00 price target on shares of 89bio in a research report on Tuesday, August 6th. Raymond James raised their price objective on shares of 89bio from $50.00 to $53.00 and gave the company a "strong-buy" rating in a research report on Tuesday, August 6th. Evercore ISI dropped their target price on shares of 89bio from $37.00 to $33.00 and set an "outperform" rating for the company in a report on Wednesday, May 15th. Finally, Royal Bank of Canada decreased their price target on 89bio from $13.00 to $12.00 and set a "sector perform" rating on the stock in a report on Tuesday, August 6th.

89bio Stock Performance

ETNB traded up $0.23 during trading on Thursday, hitting $9.23. The company's stock had a trading volume of 334,317 shares, compared to its average volume of 1,041,005. The company has a quick ratio of 15.03, a current ratio of 15.03 and a debt-to-equity ratio of 0.05. The firm has a market cap of $908.08 million, a PE ratio of -4.59 and a beta of 1.10. 89bio has a one year low of $6.57 and a one year high of $18.25. The business's 50 day simple moving average is $8.41 and its 200-day simple moving average is $9.42.

89bio (NASDAQ:ETNB - Get Free Report) last released its earnings results on Monday, August 5th. The company reported ($0.48) earnings per share for the quarter, beating the consensus estimate of ($0.56) by $0.08. During the same period in the previous year, the company earned ($0.52) EPS. As a group, sell-side analysts predict that 89bio will post -2.42 EPS for the current fiscal year.

Institutional Trading of 89bio

A number of institutional investors and hedge funds have recently bought and sold shares of ETNB. AJOVista LLC purchased a new position in shares of 89bio during the fourth quarter valued at about $42,000. Wetzel Investment Advisors Inc. grew its holdings in 89bio by 66.7% during the 1st quarter. Wetzel Investment Advisors Inc. now owns 5,000 shares of the company's stock valued at $58,000 after buying an additional 2,000 shares in the last quarter. Ameritas Investment Partners Inc. increased its stake in 89bio by 28.4% in the 1st quarter. Ameritas Investment Partners Inc. now owns 7,886 shares of the company's stock worth $92,000 after acquiring an additional 1,744 shares during the last quarter. Quest Partners LLC raised its holdings in shares of 89bio by 226.2% during the 2nd quarter. Quest Partners LLC now owns 8,113 shares of the company's stock worth $65,000 after acquiring an additional 5,626 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. purchased a new stake in shares of 89bio during the 2nd quarter worth approximately $66,000.

89bio Company Profile

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.