89bio (NASDAQ:ETNB) Rating Reiterated by HC Wainwright

HC Wainwright reiterated their buy rating on shares of 89bio (NASDAQ:ETNB) in a report published on Tuesday, Benzinga reports. HC Wainwright currently has a $29.00 price target on the stock.

A number of other research analysts have also commented on the stock. Royal Bank of Canada cut their price objective on shares of 89bio from $15.00 to $14.00 and set a sector perform rating for the company in a research report on Friday, March 1st. Evercore ISI reduced their price objective on 89bio from $37.00 to $33.00 and set an outperform rating for the company in a research report on Wednesday, May 15th. Bank of America reissued a buy rating and set a $30.00 price objective on shares of 89bio in a report on Monday, April 22nd. Cantor Fitzgerald restated an overweight rating and issued a $29.00 target price on shares of 89bio in a research note on Friday, May 17th. Finally, Oppenheimer reiterated a market perform rating on shares of 89bio in a research note on Tuesday, March 5th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $28.14.

89bio Price Performance

Shares of NASDAQ:ETNB opened at $8.77 on Tuesday. The company has a market cap of $862.79 million, a price-to-earnings ratio of -4.36 and a beta of 1.11. The business has a 50 day moving average price of $8.88 and a 200 day moving average price of $10.12. The company has a quick ratio of 15.03, a current ratio of 15.03 and a debt-to-equity ratio of 0.05. 89bio has a twelve month low of $6.57 and a twelve month high of $21.43.

89bio (NASDAQ:ETNB) last posted its quarterly earnings data 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 prior year, the company earned ($0.54) earnings per share. Research analysts predict that 89bio will post -2.42 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in ETNB. RA Capital Management L.P. increased its position in shares of 89bio by 11.8% during the 1st quarter. RA Capital Management L.P. now owns 12,766,948 shares of the company’s stock worth $148,607,000 after purchasing an additional 1,350,000 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of 89bio by 41.4% in the first quarter. Janus Henderson Group PLC now owns 12,603,382 shares of the company’s stock valued at $146,646,000 after acquiring an additional 3,688,241 shares during the last quarter. RTW Investments LP acquired a new position in shares of 89bio in the 4th quarter worth approximately $62,317,000. Vanguard Group Inc. boosted its holdings in shares of 89bio by 9.6% in the 1st quarter. Vanguard Group Inc. now owns 4,722,971 shares of the company’s stock worth $54,975,000 after acquiring an additional 415,386 shares in the last quarter. Finally, BVF Inc. IL grew its position in 89bio by 119.2% during the 4th quarter. BVF Inc. IL now owns 4,047,354 shares of the company’s stock worth $45,209,000 after acquiring an additional 2,201,200 shares during the last quarter.

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.