89bio (NASDAQ:ETNB) Price Target Lowered to $49.00 at Raymond James

89bio (NASDAQ:ETNB) had its target price cut by Raymond James from $53.00 to $49.00 in a report issued on Friday morning,Benzinga reports. They currently have a strong-buy rating on the stock.

ETNB has been the subject of several other reports. Royal Bank of Canada lowered their price target on shares of 89bio from $13.00 to $12.00 and set a “sector perform” rating for the company in a research note on Tuesday, August 6th. HC Wainwright reissued a “buy” rating and issued a $29.00 price target on shares of 89bio in a research note on Tuesday, August 6th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $29.00 price objective on shares of 89bio in a research note on Friday, September 20th. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $30.33.

89bio Stock Up 4.9 %

NASDAQ:ETNB traded up $0.49 during midday trading on Friday, hitting $10.45. The company had a trading volume of 760,377 shares, compared to its average volume of 660,865. 89bio has a 52-week low of $6.88 and a 52-week high of $16.63. The stock’s fifty day moving average price is $8.16 and its 200-day moving average price is $8.40. The company has a quick ratio of 13.92, a current ratio of 13.92 and a debt-to-equity ratio of 0.04.

89bio (NASDAQ:ETNB) last announced its earnings results on Thursday, November 7th. The company reported ($1.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.54) by ($0.85). On average, equities analysts predict that 89bio will post -2.32 EPS for the current fiscal year.

Institutional Trading of 89bio

Institutional investors and hedge funds have recently bought and sold shares of the stock. Quest Partners LLC lifted its holdings in 89bio by 226.2% in the second quarter. Quest Partners LLC now owns 8,113 shares of the company’s stock worth $65,000 after buying an additional 5,626 shares during the period. Northwestern Mutual Wealth Management Co. purchased a new stake in 89bio in the second quarter worth about $66,000. Ameritas Investment Partners Inc. lifted 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 worth $92,000 after buying an additional 1,744 shares during the period. China Universal Asset Management Co. Ltd. lifted its holdings in 89bio by 76.2% in the third quarter. China Universal Asset Management Co. Ltd. now owns 20,370 shares of the company’s stock worth $151,000 after buying an additional 8,810 shares during the period. Finally, Intech Investment Management LLC purchased a new stake in 89bio in the third quarter worth about $160,000.

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.