89bio, Inc. (NASDAQ:ETNB) Given Consensus Recommendation of “Moderate Buy” by Analysts

89bio, Inc. (NASDAQ:ETNB) has earned a consensus rating of “Moderate Buy” from the eight analysts that are presently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $30.14.

ETNB has been the subject of several analyst reports. Royal Bank of Canada cut their price target on shares of 89bio from $13.00 to $12.00 and set a “sector perform” rating for the company in a research report on Tuesday, August 6th. HC Wainwright reaffirmed a “buy” rating and set a $29.00 price objective on shares of 89bio in a research note on Tuesday, August 6th. Evercore ISI lowered their price objective on shares of 89bio from $37.00 to $33.00 and set an “outperform” rating for the company in a research note on Wednesday, May 15th. Raymond James upped their price objective on shares of 89bio from $50.00 to $53.00 and gave the company a “strong-buy” rating in a research note on Tuesday, August 6th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $29.00 price objective on shares of 89bio in a research note on Monday, July 1st.

Hedge Funds Weigh In On 89bio

A number of institutional investors have recently bought and sold shares of ETNB. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in 89bio by 94.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,850 shares of the company’s stock worth $177,000 after buying an additional 7,692 shares in the last quarter. New York State Common Retirement Fund increased its stake in shares of 89bio by 4.8% during the fourth quarter. New York State Common Retirement Fund now owns 26,041 shares of the company’s stock valued at $291,000 after purchasing an additional 1,190 shares in the last quarter. Swiss National Bank increased its stake in shares of 89bio by 27.4% during the fourth quarter. Swiss National Bank now owns 142,800 shares of the company’s stock valued at $1,595,000 after purchasing an additional 30,700 shares in the last quarter. AJOVista LLC bought a new position in shares of 89bio during the fourth quarter valued at approximately $42,000. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of 89bio by 2.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 499,353 shares of the company’s stock valued at $5,578,000 after purchasing an additional 10,349 shares in the last quarter.

89bio Stock Performance

NASDAQ ETNB opened at $9.00 on Thursday. The company has a 50-day simple moving average of $8.40 and a two-hundred day simple moving average of $9.42. The company has a quick ratio of 15.03, a current ratio of 15.03 and a debt-to-equity ratio of 0.05. 89bio has a 12-month low of $6.57 and a 12-month high of $18.25. The firm has a market cap of $885.46 million, a price-to-earnings ratio of -4.48 and a beta of 1.10.

89bio (NASDAQ:ETNB) last posted its quarterly earnings results on Monday, August 5th. The company reported ($0.48) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.56) by $0.08. During the same quarter in the previous year, the business earned ($0.52) EPS. On average, equities analysts forecast that 89bio will post -2.42 EPS for the current year.

89bio Company Profile

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.