Shares of 89bio, Inc. (NASDAQ:ETNB – Get Free Report) have earned a consensus rating of “Moderate Buy” from the eight brokerages that are covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $30.14.
ETNB has been the topic of a number of recent research reports. Raymond James lifted their target price on 89bio from $50.00 to $53.00 and gave the company a “strong-buy” rating in a research report on Tuesday, August 6th. Royal Bank of Canada dropped their price objective on 89bio from $13.00 to $12.00 and set a “sector perform” rating on the stock in a research note on Tuesday, August 6th. HC Wainwright reissued a “buy” rating and issued a $29.00 price objective on shares of 89bio in a research report on Tuesday, August 6th. Evercore ISI decreased their price objective on 89bio from $37.00 to $33.00 and set an “outperform” rating on the stock in a report on Wednesday, May 15th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $29.00 target price on shares of 89bio in a research report on Monday, July 1st.
View Our Latest Stock Report on 89bio
89bio Stock Performance
89bio (NASDAQ:ETNB – Get Free Report) last posted its earnings results on Monday, August 5th. The company reported ($0.48) earnings per share for the quarter, topping the consensus estimate of ($0.56) by $0.08. During the same period in the prior year, the business earned ($0.52) EPS. Sell-side analysts predict that 89bio will post -2.32 earnings per share for the current fiscal year.
Hedge Funds Weigh In On 89bio
Several institutional investors and hedge funds have recently added to or reduced their stakes in ETNB. New York State Common Retirement Fund boosted its holdings in shares of 89bio by 4.8% during the 4th quarter. New York State Common Retirement Fund now owns 26,041 shares of the company’s stock worth $291,000 after buying an additional 1,190 shares in the last quarter. Teacher Retirement System of Texas boosted its stake in 89bio by 9.0% during the fourth quarter. Teacher Retirement System of Texas now owns 15,791 shares of the company’s stock valued at $176,000 after buying an additional 1,299 shares during the period. PNC Financial Services Group Inc. raised its holdings in shares of 89bio by 10.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 14,760 shares of the company’s stock valued at $165,000 after buying an additional 1,360 shares in the last quarter. Ameritas Investment Partners Inc. grew its position in 89bio by 28.4% during 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. Finally, Wetzel Investment Advisors Inc. grew its stake in shares of 89bio by 66.7% in the first quarter. Wetzel Investment Advisors Inc. now owns 5,000 shares of the company’s stock worth $58,000 after purchasing an additional 2,000 shares during the last quarter.
About 89bio
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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