Brokerages Set $57.50 Price Target for 89bio (NASDAQ:ETNB)

Shares of 89bio (NASDAQ:ETNB) have received an average broker rating score of 1.33 (Strong Buy) from the three analysts that cover the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a buy rating and two have issued a strong buy rating on the company.

Brokerages have set a twelve-month consensus price objective of $57.50 for the company and are forecasting that the company will post ($0.83) EPS for the current quarter, according to Zacks. Zacks has also given 89bio an industry rank of 73 out of 255 based on the ratings given to its competitors.

ETNB has been the topic of a number of recent analyst reports. Svb Leerink reiterated an “outperform” rating on shares of 89bio in a report on Thursday, January 2nd. Oppenheimer initiated coverage on shares of 89bio in a report on Monday, December 9th. They issued an “outperform” rating and a $60.00 price objective on the stock. Bank of America initiated coverage on shares of 89bio in a research report on Monday, December 9th. They issued a “neutral” rating and a $33.00 target price for the company. Leerink Swann initiated coverage on shares of 89bio in a research report on Monday, December 9th. They issued an “outperform” rating and a $55.00 target price for the company. Finally, Royal Bank of Canada initiated coverage on shares of 89bio in a research report on Monday, December 9th. They issued an “outperform” rating and a $36.00 target price for the company.

Shares of ETNB stock opened at $32.50 on Friday. 89bio has a 12 month low of $16.60 and a 12 month high of $46.19. The business has a fifty day moving average price of $26.86.

89bio (NASDAQ:ETNB) last issued its quarterly earnings data on Wednesday, December 18th. The company reported ($30.63) EPS for the quarter, missing analysts’ consensus estimates of ($1.20) by ($29.43). Equities analysts expect that 89bio will post -35.76 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in ETNB. Victory Capital Management Inc. bought a new stake in shares of 89bio in the 4th quarter worth about $25,000. American International Group Inc. bought a new stake in shares of 89bio in the 4th quarter worth about $48,000. New York State Common Retirement Fund bought a new stake in shares of 89bio in the 4th quarter worth about $103,000. UBS Group AG bought a new stake in shares of 89bio in the 4th quarter worth about $163,000. Finally, Landscape Capital Management L.L.C. bought a new stake in shares of 89bio in the 4th quarter worth about $202,000.

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, BIO89-100, a glycoPEGylated analog of fibroblast growth factor 21 that is being developed for the treatment of nonalcoholic steatohepatitis.

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