89bio (ETNB) – Analysts’ Weekly Ratings Updates

A number of firms have modified their ratings and price targets on shares of 89bio (NASDAQ: ETNB) recently:

• 5/13/2022 – 89bio had its price target lowered by analysts at Oppenheimer Holdings Inc. from $49.00 to $40.00.
• 5/12/2022 – 89bio was upgraded by analysts at Raymond James from an “outperform” rating to a “strong-buy” rating. They now have a $12.00 price target on the stock, down previously from $33.00.
• 5/12/2022 – 89bio had its price target lowered by analysts at HC Wainwright from $46.00 to $29.00.
• 5/12/2022 – 89bio had its price target lowered by analysts at Cantor Fitzgerald from $41.00 to $27.00.
• 3/25/2022 – 89bio had its price target lowered by analysts at SVB Leerink LLC from $62.00 to $50.00. They now have an “outperform” rating on the stock.

Shares of ETNB stock traded up $0.13 on Tuesday, reaching $2.77. 1,254 shares of the stock were exchanged, compared to its average volume of 294,182. The stock has a market cap of $56.37 million, a P/E ratio of -0.55 and a beta of 2.82. The company has a quick ratio of 7.36, a current ratio of 7.36 and a debt-to-equity ratio of 0.14. The firm has a 50 day moving average of $3.19 and a two-hundred day moving average of $8.25. 89bio, Inc. has a 1-year low of $2.00 and a 1-year high of $23.07.

89bio (NASDAQ:ETNB – Get Rating) last released its quarterly earnings data on Wednesday, May 11th. The company reported ($1.26) EPS for the quarter, topping analysts’ consensus estimates of ($1.29) by $0.03. On average, equities research analysts predict that 89bio, Inc. will post -4.88 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Citigroup Inc. increased its holdings in 89bio by 172.9% in the 4th quarter. Citigroup Inc. now owns 3,146 shares of the company’s stock valued at $41,000 after purchasing an additional 1,993 shares in the last quarter. Wells Fargo & Company MN purchased a new position in 89bio in the 4th quarter valued at about $48,000. SG Americas Securities LLC purchased a new position in 89bio in the 3rd quarter valued at about $111,000. Acadian Asset Management LLC purchased a new position in 89bio in the 1st quarter valued at about $34,000. Finally, Goldman Sachs Group Inc. purchased a new position in 89bio in the 4th quarter valued at about $134,000. Hedge funds and other institutional investors own 91.06% of the company’s stock.

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.

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