89bio’s (ETNB) “Buy” Rating Reaffirmed at HC Wainwright

89bio (NASDAQ:ETNBGet Free Report)‘s stock had its “buy” rating reissued by equities researchers at HC Wainwright in a report released on Tuesday, Benzinga reports. They presently have a $29.00 price objective on the stock. HC Wainwright’s price objective would suggest a potential upside of 242.38% from the company’s current price.

ETNB has been the topic of a number of other reports. Bank of America reiterated a “buy” rating and set a $30.00 price objective on shares of 89bio in a research note on Monday, April 22nd. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $29.00 price target on shares of 89bio in a report on Friday, May 17th. Royal Bank of Canada reduced their target price on shares of 89bio from $15.00 to $14.00 and set a “sector perform” rating for the company in a report on Friday, March 1st. Oppenheimer reissued a “market perform” rating on shares of 89bio in a report on Tuesday, March 5th. Finally, Evercore ISI reduced their target price on shares of 89bio from $37.00 to $33.00 and set an “outperform” rating for the company in a report on Wednesday, May 15th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $28.14.

View Our Latest Analysis on 89bio

89bio Stock Performance

89bio stock opened at $8.47 on Tuesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 15.03 and a quick ratio of 15.03. 89bio has a 1-year low of $6.57 and a 1-year high of $22.93. The firm has a market capitalization of $833.28 million, a P/E ratio of -4.21 and a beta of 1.11. The company’s 50-day moving average is $9.02 and its 200 day moving average is $10.12.

89bio (NASDAQ:ETNBGet Free Report) last posted its quarterly earnings data on Wednesday, May 15th. The company reported ($0.54) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.08). During the same period in the prior year, the firm earned ($0.54) EPS. Research analysts forecast that 89bio will post -2.42 EPS for the current year.

Institutional Investors Weigh In On 89bio

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Wetzel Investment Advisors Inc. purchased a new stake in 89bio during the fourth quarter worth about $34,000. AJOVista LLC acquired a new position in shares of 89bio in the fourth quarter valued at approximately $42,000. Ameritas Investment Partners Inc. increased its position in 89bio by 28.4% during the first 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 during the last quarter. China Universal Asset Management Co. Ltd. increased its position in 89bio by 349.7% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 8,747 shares of the company’s stock worth $98,000 after purchasing an additional 6,802 shares during the last quarter. Finally, Quest Partners LLC acquired a new position in 89bio during the fourth quarter worth approximately $117,000.

89bio Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for 89bio (NASDAQ:ETNB)

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