89BIO (NASDAQ:ETNB) Receives $25.81 Average PT from Analysts

Shares of 89BIO (NASDAQ:ETNB) have earned a consensus recommendation of “Hold” from the eleven ratings firms that are currently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $25.8125.

Several equities analysts recently weighed in on ETNB shares. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of 89BIO in a research note on Friday. Bank of America dropped their price objective on 89BIO from $30.00 to $29.00 and set a “buy” rating for the company in a research note on Monday, August 25th. Royal Bank Of Canada dropped their price objective on 89BIO from $12.00 to $11.00 and set a “sector perform” rating for the company in a research note on Friday, August 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of 89BIO in a report on Wednesday, October 8th. Finally, Raymond James Financial cut 89BIO from a “strong-buy” rating to a “market perform” rating in a report on Friday, September 19th.

89BIO Stock Performance

NASDAQ ETNB opened at $14.84 on Tuesday. 89BIO has a 1-year low of $4.16 and a 1-year high of $15.06. The company has a market capitalization of $2.20 billion, a P/E ratio of -4.11 and a beta of 1.27. The business has a 50 day moving average price of $12.63 and a 200 day moving average price of $10.39. The company has a debt-to-equity ratio of 0.07, a current ratio of 15.19 and a quick ratio of 15.19.

89BIO (NASDAQ:ETNB) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.71) earnings per share for the quarter, missing the consensus estimate of ($0.49) by ($0.22). During the same quarter in the previous year, the firm earned ($0.48) earnings per share. Sell-side analysts expect that 89BIO will post -3.19 EPS for the current fiscal year.

Institutional Investors Weigh In On 89BIO

A number of large investors have recently bought and sold shares of the stock. Y Intercept Hong Kong Ltd grew its holdings in 89BIO by 99.5% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 35,654 shares of the company’s stock valued at $524,000 after buying an additional 17,778 shares during the last quarter. Covestor Ltd grew its holdings in 89BIO by 193,963.6% during the 3rd quarter. Covestor Ltd now owns 21,347 shares of the company’s stock valued at $314,000 after buying an additional 21,336 shares during the last quarter. Syquant Capital Sas acquired a new stake in 89BIO during the 3rd quarter valued at $38,127,000. Gilliland Jeter Wealth Management LLC grew its holdings in 89BIO by 14.7% during the 3rd quarter. Gilliland Jeter Wealth Management LLC now owns 60,499 shares of the company’s stock valued at $889,000 after buying an additional 7,750 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in 89BIO during the 3rd quarter valued at $731,000.

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.