89bio, Inc. (NASDAQ:ETNB) Receives $28.14 Consensus PT from Brokerages

89bio, Inc. (NASDAQ:ETNBGet Free Report) has received a consensus recommendation of “Moderate Buy” from the seven ratings firms that are presently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $28.14.

A number of research analysts recently weighed in on the stock. Oppenheimer restated a “market perform” rating on shares of 89bio in a research report on Tuesday, March 5th. HC Wainwright reaffirmed a “buy” rating and issued a $29.00 price objective on shares of 89bio in a report on Tuesday, June 11th. Royal Bank of Canada reduced their price objective on 89bio from $15.00 to $14.00 and set a “sector perform” rating for the company in a research report on Friday, March 1st. Evercore ISI dropped their target price on 89bio from $37.00 to $33.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 15th. Finally, Bank of America reiterated a “buy” rating and issued a $30.00 price objective on shares of 89bio in a research note on Monday, April 22nd.

Read Our Latest Stock Analysis on 89bio

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in ETNB. RA Capital Management L.P. raised its stake in 89bio by 11.8% during the 1st quarter. RA Capital Management L.P. now owns 12,766,948 shares of the company’s stock worth $148,607,000 after acquiring an additional 1,350,000 shares during the period. Comerica Bank raised its position in shares of 89bio by 9.7% during the 1st quarter. Comerica Bank now owns 171,000 shares of the company’s stock valued at $1,990,000 after purchasing an additional 15,070 shares during the period. Janus Henderson Group PLC lifted its stake in shares of 89bio by 41.4% during the 1st quarter. Janus Henderson Group PLC now owns 12,603,382 shares of the company’s stock valued at $146,646,000 after buying an additional 3,688,241 shares in the last quarter. Redmile Group LLC boosted its holdings in 89bio by 15.0% in the 1st quarter. Redmile Group LLC now owns 2,264,566 shares of the company’s stock worth $26,360,000 after buying an additional 295,164 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its holdings in 89bio by 28.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 31,221 shares of the company’s stock worth $364,000 after buying an additional 7,000 shares during the period.

89bio Stock Up 7.4 %

89bio stock opened at $8.52 on Friday. 89bio has a 12 month low of $6.57 and a 12 month high of $20.28. The stock has a fifty day simple moving average of $8.68 and a two-hundred day simple moving average of $10.13. 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 firm has a market cap of $838.20 million, a price-to-earnings ratio of -4.24 and a beta of 1.11.

89bio (NASDAQ:ETNBGet Free Report) last released its quarterly earnings data 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 prior year, the company posted ($0.54) earnings per share. Equities analysts predict that 89bio will post -2.42 EPS for the current fiscal year.

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.

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Analyst Recommendations for 89bio (NASDAQ:ETNB)

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