89bio, Inc. (NASDAQ:ETNB) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of 89bio, Inc. (NASDAQ:ETNB) have received a consensus rating of “Moderate Buy” from the eight research firms that are covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $30.14.

A number of research firms recently commented on ETNB. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $29.00 price target on shares of 89bio in a research report on Friday, September 20th. Raymond James boosted their price target on 89bio from $50.00 to $53.00 and gave the company a “strong-buy” rating in a research note on Tuesday, August 6th. HC Wainwright reissued a “buy” rating and set a $29.00 price target on shares of 89bio in a research report on Tuesday, August 6th. Finally, Royal Bank of Canada dropped their price objective on 89bio from $13.00 to $12.00 and set a “sector perform” rating for the company in a report on Tuesday, August 6th.

89bio Price Performance

89bio stock opened at $7.26 on Monday. The company has a market capitalization of $714.27 million, a price-to-earnings ratio of -3.61 and a beta of 1.11. The company has a current ratio of 13.92, a quick ratio of 13.92 and a debt-to-equity ratio of 0.04. 89bio has a 12 month low of $6.57 and a 12 month high of $16.63. The stock’s 50 day moving average is $8.48 and its 200-day moving average is $8.94.

89bio (NASDAQ:ETNB) last issued its quarterly earnings data on Monday, August 5th. The company reported ($0.48) EPS for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.08. During the same period last year, the business earned ($0.52) earnings per share. Equities research analysts expect that 89bio will post -2.32 EPS for the current year.

Institutional Trading of 89bio

Institutional investors and hedge funds have recently modified their holdings of the business. Teacher Retirement System of Texas raised 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 worth $176,000 after acquiring an additional 1,299 shares in the last quarter. PNC Financial Services Group Inc. grew 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 purchasing an additional 1,360 shares during the last quarter. Ameritas Investment Partners Inc. increased 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 purchasing an additional 1,744 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in 89bio by 12.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 31,355 shares of the company’s stock valued at $251,000 after purchasing an additional 3,557 shares during the last quarter. Finally, Swiss National Bank boosted its position in 89bio by 3.1% in the first quarter. Swiss National Bank now owns 147,200 shares of the company’s stock valued at $1,713,000 after buying an additional 4,400 shares in the last quarter.

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.