89bio, Inc. (NASDAQ:ETNB) Receives $30.33 Average Target Price from Analysts

89bio, Inc. (NASDAQ:ETNBGet Free Report) has received an average recommendation of “Moderate Buy” from the seven analysts that are presently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $30.33.

A number of research firms have issued reports on ETNB. Cantor Fitzgerald restated an “overweight” rating and set a $29.00 target price on shares of 89bio in a research report on Thursday, January 2nd. Raymond James upgraded shares of 89bio to a “strong-buy” rating in a research report on Thursday, December 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of 89bio in a research report on Saturday, January 18th. Finally, HC Wainwright reiterated a “buy” rating and issued a $29.00 price target on shares of 89bio in a research report on Tuesday, January 21st.

Read Our Latest Analysis on 89bio

Insider Buying and Selling

In other 89bio news, Director Charles Mcwherter purchased 5,000 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The stock was bought at an average cost of $6.55 per share, with a total value of $32,750.00. Following the purchase, the director now directly owns 15,000 shares of the company’s stock, valued at $98,250. The trade was a 50.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Quoc Le-Nguyen sold 10,963 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $6.49, for a total transaction of $71,149.87. Following the transaction, the insider now directly owns 271,833 shares of the company’s stock, valued at $1,764,196.17. This represents a 3.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders acquired 30,000 shares of company stock valued at $235,700. 2.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On 89bio

Several hedge funds have recently made changes to their positions in the business. Janus Henderson Group PLC grew its stake in shares of 89bio by 14.2% during the 3rd quarter. Janus Henderson Group PLC now owns 15,158,218 shares of the company’s stock worth $112,140,000 after acquiring an additional 1,882,108 shares in the last quarter. Westfield Capital Management Co. LP grew its stake in shares of 89bio by 29.6% in the third quarter. Westfield Capital Management Co. LP now owns 3,006,038 shares of the company’s stock valued at $22,245,000 after buying an additional 686,673 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of 89bio by 8.4% in the third quarter. Geode Capital Management LLC now owns 2,074,970 shares of the company’s stock valued at $15,358,000 after buying an additional 160,356 shares in the last quarter. Erste Asset Management GmbH bought a new position in shares of 89bio in the third quarter valued at $5,631,000. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of 89bio by 8.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 721,050 shares of the company’s stock valued at $5,336,000 after buying an additional 53,932 shares in the last quarter.

89bio Stock Up 0.1 %

Shares of NASDAQ ETNB opened at $9.01 on Friday. The company has a quick ratio of 11.66, a current ratio of 11.66 and a debt-to-equity ratio of 0.09. 89bio has a 12-month low of $5.99 and a 12-month high of $16.63. The company has a market cap of $956.23 million, a price-to-earnings ratio of -3.10 and a beta of 1.14. The firm’s 50-day simple moving average is $7.76 and its 200 day simple moving average is $8.18.

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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