89bio (NASDAQ:ETNB) Releases Quarterly Earnings Results, Beats Estimates By $0.01 EPS

89bio (NASDAQ:ETNB - Get Free Report) released its quarterly earnings results on Thursday. The company reported ($0.49) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.50) by $0.01, Zacks reports. During the same period in the previous year, the company earned ($0.54) earnings per share.

89bio Price Performance

Shares of 89bio stock traded up $0.60 during trading hours on Friday, hitting $8.73. The company's stock had a trading volume of 2,526,878 shares, compared to its average volume of 1,339,754. The company has a debt-to-equity ratio of 0.09, a quick ratio of 11.66 and a current ratio of 11.66. 89bio has a 12-month low of $4.16 and a 12-month high of $11.84. The business has a 50 day moving average price of $7.38 and a two-hundred day moving average price of $8.17. The company has a market cap of $1.27 billion, a PE ratio of -3.00 and a beta of 1.25.

Insider Activity at 89bio

In other 89bio news, insider Quoc Le-Nguyen sold 15,329 shares of the stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $5.95, for a total transaction of $91,207.55. Following the completion of the sale, the insider now directly owns 328,323 shares of the company's stock, valued at $1,953,521.85. This trade represents a 4.46 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. The Goldman Sachs Group began coverage on 89bio in a research note on Friday, March 14th. They set a "neutral" rating and a $11.00 price target for the company. Cantor Fitzgerald upgraded shares of 89bio to a "strong-buy" rating in a research report on Wednesday. Weiss Ratings reiterated a "sell (d-)" rating on shares of 89bio in a research report on Thursday, April 24th. UBS Group lifted their price target on shares of 89bio from $25.00 to $38.00 and gave the stock a "buy" rating in a research note on Friday, January 31st. Finally, Wolfe Research started coverage on 89bio in a research note on Tuesday, February 4th. They issued an "outperform" rating for the company. Two analysts have rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $27.25.

89bio Company Profile

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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