HC Wainwright Reaffirms Buy Rating for 89bio (NASDAQ:ETNB)

HC Wainwright reiterated their buy rating on shares of 89bio (NASDAQ:ETNBFree Report) in a research note released on Tuesday, Benzinga reports. They currently have a $29.00 target price on the stock.

Several other research firms have also commented on ETNB. Oppenheimer reiterated a market perform rating on shares of 89bio in a research note on Tuesday, March 5th. Cantor Fitzgerald restated an overweight rating and issued a $29.00 price target on shares of 89bio in a research report on Friday, May 17th. Evercore ISI dropped their price target on 89bio from $37.00 to $33.00 and set an outperform rating for the company in a research report on Wednesday, May 15th. Royal Bank of Canada dropped their price target on 89bio from $15.00 to $14.00 and set a sector perform rating for the company in a research report on Friday, March 1st. Finally, Bank of America reiterated a buy rating and issued a $30.00 price objective on shares of 89bio in a report on Monday, April 22nd. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $28.14.

Read Our Latest Stock Analysis on ETNB

89bio Price Performance

Shares of 89bio stock opened at $9.29 on Tuesday. The company has a quick ratio of 15.03, a current ratio of 15.03 and a debt-to-equity ratio of 0.05. 89bio has a twelve month low of $6.57 and a twelve month high of $22.10. The business has a 50-day moving average price of $8.92 and a 200 day moving average price of $10.12. The firm has a market cap of $913.99 million, a PE ratio of -4.62 and a beta of 1.11.

89bio (NASDAQ:ETNBGet Free Report) last announced its quarterly earnings results on Wednesday, May 15th. The company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.46) by ($0.08). During the same quarter in the previous year, the firm posted ($0.54) earnings per share. Sell-side analysts predict that 89bio will post -2.42 earnings per share for the current fiscal year.

Institutional Trading of 89bio

Hedge funds have recently modified their holdings of the stock. Wetzel Investment Advisors Inc. acquired a new stake in shares of 89bio in the fourth quarter valued at $34,000. AJOVista LLC purchased a new position in 89bio in the fourth quarter valued at $42,000. Ameritas Investment Partners Inc. increased its holdings in 89bio by 28.4% in the first quarter. Ameritas Investment Partners Inc. now owns 7,886 shares of the company’s stock valued at $92,000 after buying an additional 1,744 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its holdings in 89bio by 349.7% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 8,747 shares of the company’s stock valued at $98,000 after buying an additional 6,802 shares during the last quarter. Finally, Quest Partners LLC purchased a new position in 89bio in the fourth quarter valued at $117,000.

89bio Company Profile

(Get Free Report)

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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Analyst Recommendations for 89bio (NASDAQ:ETNB)

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