89bio, Inc. (NASDAQ:ETNB) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of 89bio, Inc. (NASDAQ:ETNB) have been given a consensus rating of “Moderate Buy” by the seven brokerages that are covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $26.67.

ETNB has been the subject of several research analyst reports. 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 research report on Wednesday, May 15th. HC Wainwright reiterated a “buy” rating and issued a $29.00 price target on shares of 89bio in a research note on Tuesday, June 11th. Bank of America reiterated a “buy” rating and issued a $30.00 price target on shares of 89bio in a research note on Monday, April 22nd. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $29.00 price target on shares of 89bio in a research note on Monday, July 1st.

Institutional Trading of 89bio

A number of institutional investors and hedge funds have recently bought and sold shares of the company. New York State Common Retirement Fund increased its stake in 89bio by 4.8% during the 4th quarter. New York State Common Retirement Fund now owns 26,041 shares of the company’s stock valued at $291,000 after purchasing an additional 1,190 shares in the last quarter. Teacher Retirement System of Texas increased its stake in 89bio by 9.0% during the 4th quarter. Teacher Retirement System of Texas now owns 15,791 shares of the company’s stock valued at $176,000 after purchasing an additional 1,299 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in shares of 89bio by 10.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 14,760 shares of the company’s stock worth $165,000 after acquiring an additional 1,360 shares during the period. Ameritas Investment Partners Inc. grew its stake in shares of 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 acquiring an additional 1,744 shares during the period. 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 acquiring an additional 2,000 shares during the period.

89bio Trading Up 2.4 %

NASDAQ:ETNB opened at $9.22 on Wednesday. The company has a 50-day moving average price of $8.39 and a 200-day moving average price of $9.83. 89bio has a 12 month low of $6.57 and a 12 month high of $18.93. The company has a current ratio of 15.03, a quick ratio of 15.03 and a debt-to-equity ratio of 0.05. The stock has a market cap of $907.06 million, a price-to-earnings ratio of -4.59 and a beta of 1.10.

89bio (NASDAQ:ETNB) last posted its earnings results on Wednesday, May 15th. The company reported ($0.54) EPS for the quarter, missing the consensus estimate of ($0.46) by ($0.08). During the same period in the previous year, the firm earned ($0.54) EPS. Equities analysts predict that 89bio will post -2.42 EPS for the current year.

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.