89bio (NASDAQ:ETNB) Releases Earnings Results, Misses Estimates By $29.43 EPS

89bio (NASDAQ:ETNB) issued its quarterly earnings data on Wednesday. The company reported ($30.63) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.20) by ($29.43), Fidelity Earnings reports.

Shares of ETNB stock traded down $0.25 during trading hours on Thursday, reaching $28.34. 10,792 shares of the company’s stock were exchanged, compared to its average volume of 99,238. 89bio has a fifty-two week low of $16.60 and a fifty-two week high of $46.19.

ETNB has been the subject of a number of analyst reports. Bank of America began coverage on 89bio in a research note on Monday, December 9th. They set a “neutral” rating and a $33.00 price objective for the company. Svb Leerink began coverage on 89bio in a research note on Monday, December 9th. They issued an “outperform” rating and a $55.00 target price on the stock. Leerink Swann started coverage on shares of 89bio in a report on Monday, December 9th. They issued an “outperform” rating and a $55.00 target price for the company. Oppenheimer started coverage on shares of 89bio in a report on Monday, December 9th. They issued an “outperform” rating and a $60.00 price target on the stock. Finally, Royal Bank of Canada started coverage on shares of 89bio in a research report on Monday, December 9th. They issued an “outperform” rating and a $36.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. 89bio presently has a consensus rating of “Buy” and an average price target of $47.80.

In other 89bio news, major shareholder Longitude Capital Partners Iii purchased 575,000 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were acquired at an average price of $27.00 per share, for a total transaction of $15,525,000.00. Also, Director Orbimed Advisors Llc acquired 837,500 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were bought at an average price of $27.00 per share, for a total transaction of $22,612,500.00.

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, BIO89-100, a glycoPEGylated analog of fibroblast growth factor 21 that is being developed for the treatment of nonalcoholic steatohepatitis.

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