Shares of 89bio, Inc. (NASDAQ:ETNB – Get Free Report) have been given an average recommendation of “Moderate Buy” by the eight research firms that are covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $30.14.
A number of equities research analysts have recently weighed in on the company. Raymond James raised their price target on 89bio from $50.00 to $53.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, August 6th. Royal Bank of Canada reduced their target price on shares of 89bio from $13.00 to $12.00 and set a “sector perform” rating for the company in a research note on Tuesday, August 6th. Cantor Fitzgerald reissued an “overweight” rating and issued a $29.00 target price on shares of 89bio in a research report on Friday. Finally, HC Wainwright restated a “buy” rating and set a $29.00 price target on shares of 89bio in a report on Tuesday, August 6th.
Check Out Our Latest Research Report on 89bio
Institutional Trading of 89bio
89bio Stock Performance
Shares of ETNB opened at $8.19 on Monday. The company has a market capitalization of $805.76 million, a PE ratio of -4.07 and a beta of 1.11. The company has a debt-to-equity ratio of 0.04, a quick ratio of 13.92 and a current ratio of 13.92. The company’s 50 day moving average price is $8.61 and its 200 day moving average price is $9.13. 89bio has a 52 week low of $6.57 and a 52 week high of $16.63.
89bio (NASDAQ:ETNB – Get Free Report) last posted its quarterly earnings results on Monday, August 5th. The company reported ($0.48) EPS for the quarter, beating the consensus estimate of ($0.56) by $0.08. During the same quarter in the previous year, the firm earned ($0.52) EPS. Research analysts expect that 89bio will post -2.32 EPS for the current fiscal year.
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 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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