89bio’s (ETNB) “Buy” Rating Reaffirmed at HC Wainwright

89bio (NASDAQ:ETNBGet Free Report)‘s stock had its “buy” rating reiterated by HC Wainwright in a research report issued to clients and investors on Tuesday, Benzinga reports. They presently have a $29.00 target price on the stock. HC Wainwright’s price target indicates a potential upside of 242.38% from the stock’s current price.

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

Read Our Latest Stock Analysis on 89bio

89bio Stock Up 4.6 %

Shares of NASDAQ:ETNB opened at $8.47 on Tuesday. The stock has a fifty day simple moving average of $9.02 and a two-hundred day simple moving average of $10.12. The stock has a market capitalization of $833.28 million, a price-to-earnings ratio of -4.21 and a beta of 1.11. 89bio has a 12-month low of $6.57 and a 12-month high of $22.93. The company has a current ratio of 15.03, a quick ratio of 15.03 and a debt-to-equity ratio of 0.05.

89bio (NASDAQ:ETNBGet Free Report) last posted its earnings results on Wednesday, May 15th. The company reported ($0.54) EPS for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.08). During the same period last year, the company earned ($0.54) earnings per share. On average, research analysts anticipate that 89bio will post -2.42 earnings per share for the current fiscal year.

Institutional Trading of 89bio

Hedge funds have recently bought and sold shares of the stock. Wetzel Investment Advisors Inc. purchased a new stake in shares of 89bio during the 4th quarter valued at $34,000. AJOVista LLC purchased a new stake in shares of 89bio during the 4th quarter valued at $42,000. Ameritas Investment Partners Inc. raised its stake in 89bio by 28.4% in 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. raised its stake in 89bio by 349.7% in 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, Alpine Global Management LLC purchased a new position in 89bio in the 3rd quarter worth $159,000.

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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