89bio (NASDAQ:ETNB) Releases Quarterly Earnings Results, Misses Estimates By $0.02 EPS

89bio (NASDAQ:ETNB) released its earnings results on Sunday. The company reported ($0.86) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.84) by ($0.02), MarketWatch Earnings reports.

89bio stock opened at $26.88 on Monday. The stock has a market cap of $453.04 million and a price-to-earnings ratio of -0.77. 89bio has a 1 year low of $14.00 and a 1 year high of $47.25. The firm has a 50-day moving average of $24.45 and a two-hundred day moving average of $27.89.

A number of research analysts recently weighed in on ETNB shares. Zacks Investment Research upgraded shares of 89bio from a “hold” rating to a “buy” rating and set a $28.00 target price on the stock in a research note on Friday, November 6th. SVB Leerink lifted their target price on shares of 89bio from $51.00 to $56.00 and gave the company an “outperform” rating in a research note on Wednesday, November 11th. Chardan Capital lifted their price target on shares of 89bio from $59.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, September 15th. Raymond James started coverage on shares of 89bio in a report on Monday, October 19th. They issued a “strong-buy” rating and a $65.00 price target on the stock. Finally, BTIG Research lifted their price target on shares of 89bio from $51.00 to $58.00 and gave the company a “buy” rating in a report on Tuesday, September 15th. One research analyst has rated the stock with a sell rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. 89bio has an average rating of “Buy” and an average target price of $55.00.

In other 89bio news, Director Ra Capital Management, L.P. purchased 1,300,000 shares of the stock in a transaction dated Thursday, September 17th. The stock was purchased at an average price of $28.00 per share, with a total value of $36,400,000.00. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Orbimed Advisors Llc sold 275,000 shares of the company’s stock in a transaction that occurred on Monday, September 21st. The stock was sold at an average price of $28.00, for a total transaction of $7,700,000.00. The disclosure for this sale can be found here. 18.10% of the stock is owned by insiders.

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

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Earnings History for 89bio (NASDAQ:ETNB)

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