89bio (NASDAQ:ETNB - Get Free Report) issued its quarterly earnings results on Thursday, May 1st. The company reported ($0.49) EPS for the quarter, beating the consensus estimate of ($0.50) by $0.01, Zacks reports. During the same quarter in the prior year, the company earned ($0.54) EPS.
89bio Stock Performance
Shares of ETNB traded up $0.15 during trading hours on Thursday, hitting $7.82. The stock had a trading volume of 1,045,039 shares, compared to its average volume of 1,353,253. The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of -2.69 and a beta of 1.23. The company has a debt-to-equity ratio of 0.09, a quick ratio of 11.66 and a current ratio of 11.66. The firm has a 50-day moving average price of $7.30 and a 200 day moving average price of $8.16. 89bio has a fifty-two week low of $4.16 and a fifty-two week high of $11.84.
Insider Buying and Selling at 89bio
In other news, insider Quoc Le-Nguyen sold 15,329 shares of the business's stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $5.95, for a total value of $91,207.55. Following the completion of the sale, the insider now directly owns 328,323 shares in the company, valued at $1,953,521.85. The trade was a 4.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.80% of the stock is owned by corporate insiders.
Analyst Ratings Changes
A number of research firms recently issued reports on ETNB. HC Wainwright restated a "buy" rating and set a $21.00 price objective (down previously from $29.00) on shares of 89bio in a report on Friday, February 28th. Weiss Ratings restated a "sell (d-)" rating on shares of 89bio in a research note on Thursday, April 24th. Wolfe Research assumed coverage on shares of 89bio in a research note on Tuesday, February 4th. They issued an "outperform" rating for the company. The Goldman Sachs Group started coverage on shares of 89bio in a research note on Friday, March 14th. They issued a "neutral" rating and a $11.00 price objective for the company. Finally, Cantor Fitzgerald upgraded shares of 89bio to a "strong-buy" rating in a report on Wednesday, April 30th. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $27.25.
Check Out Our Latest Stock Report on ETNB
89bio Company Profile
(
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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