HC Wainwright Reaffirms Buy Rating for 89bio (NASDAQ:ETNB)

HC Wainwright restated their buy rating on shares of 89bio (NASDAQ:ETNBFree Report) in a research report released on Tuesday, Benzinga reports. The brokerage currently has a $29.00 price objective on the stock.

ETNB has been the topic of several other research reports. Oppenheimer reaffirmed a market perform rating on shares of 89bio in a report on Tuesday, March 5th. Evercore ISI lowered their price target on 89bio from $37.00 to $33.00 and set an outperform rating on the stock in a report on Wednesday, May 15th. Bank of America reaffirmed a buy rating and issued a $30.00 price target on shares of 89bio in a report on Monday, April 22nd. Royal Bank of Canada lowered their price target on 89bio from $15.00 to $14.00 and set a sector perform rating on the stock in a report on Friday, March 1st. Finally, Cantor Fitzgerald reissued an overweight rating and set a $29.00 price objective on shares of 89bio in a report on Friday, May 17th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $28.14.

Check Out Our Latest Analysis on ETNB

89bio Stock Performance

Shares of ETNB opened at $9.29 on Tuesday. The stock’s 50-day simple moving average is $8.92 and its 200 day simple moving average is $10.12. The stock has a market capitalization of $913.99 million, a price-to-earnings ratio of -4.62 and a beta of 1.11. The company has a debt-to-equity ratio of 0.05, a quick ratio of 15.03 and a current ratio of 15.03. 89bio has a 52-week low of $6.57 and a 52-week high of $22.10.

89bio (NASDAQ:ETNBGet Free Report) last released its quarterly earnings results on Wednesday, May 15th. The company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.46) by ($0.08). During the same quarter in the previous year, the firm earned ($0.54) earnings per share. Research analysts forecast that 89bio will post -2.42 EPS for the current fiscal year.

Hedge Funds Weigh In On 89bio

Several institutional investors and hedge funds have recently bought and sold shares of ETNB. Wetzel Investment Advisors Inc. bought a new position in 89bio during the 4th quarter worth approximately $34,000. AJOVista LLC bought a new position in 89bio during the 4th quarter worth approximately $42,000. Ameritas Investment Partners Inc. grew its position in 89bio by 28.4% during the 1st quarter. Ameritas Investment Partners Inc. now owns 7,886 shares of the company’s stock worth $92,000 after acquiring an additional 1,744 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its position in 89bio by 349.7% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 8,747 shares of the company’s stock worth $98,000 after acquiring an additional 6,802 shares during the last quarter. Finally, Quest Partners LLC bought a new position in 89bio during the 4th quarter worth approximately $117,000.

About 89bio

(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.

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Analyst Recommendations for 89bio (NASDAQ:ETNB)

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