Weiss Ratings reiterated their sell (d-) rating on shares of 89bio (NASDAQ:ETNB - Free Report) in a research report released on Saturday morning,Weiss Ratings reports.
Other equities analysts have also recently issued reports about the stock. Citigroup initiated coverage on shares of 89bio in a research report on Thursday, March 13th. They set a "buy" rating and a $25.00 price target on the stock. Wolfe Research started coverage on shares of 89bio in a report on Tuesday, February 4th. They issued an "outperform" rating for the company. The Goldman Sachs Group began coverage on shares of 89bio in a report on Friday, March 14th. They set a "neutral" rating and a $11.00 price objective on the stock. UBS Group lifted their target price on 89bio from $25.00 to $38.00 and gave the company a "buy" rating in a research report on Friday, January 31st. Finally, HC Wainwright reaffirmed a "buy" rating and set a $21.00 price target (down previously from $29.00) on shares of 89bio in a research report on Friday, February 28th. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $26.43.
Check Out Our Latest Stock Report on 89bio
89bio Price Performance
ETNB traded up $0.58 during midday trading on Friday, hitting $9.81. The company had a trading volume of 1,371,026 shares, compared to its average volume of 1,431,486. 89bio has a twelve month low of $4.16 and a twelve month high of $11.84. The firm's 50-day simple moving average is $7.37 and its 200-day simple moving average is $8.15. 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 company has a market capitalization of $1.43 billion, a PE ratio of -3.37 and a beta of 1.23.
89bio (NASDAQ:ETNB - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported ($0.49) EPS for the quarter, topping the consensus estimate of ($0.50) by $0.01. During the same quarter last year, the firm posted ($0.54) EPS. Equities research analysts predict that 89bio will post -3.19 EPS for the current fiscal year.
Insider Buying and Selling
In other 89bio news, insider Quoc Le-Nguyen sold 15,329 shares of the company's stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $5.95, for a total value of $91,207.55. Following the transaction, 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. 2.60% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On 89bio
Several institutional investors and hedge funds have recently modified their holdings of the stock. Rhumbline Advisers increased its holdings in shares of 89bio by 17.0% in the first quarter. Rhumbline Advisers now owns 152,138 shares of the company's stock valued at $1,106,000 after purchasing an additional 22,158 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of 89bio by 50.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 268,798 shares of the company's stock valued at $1,954,000 after acquiring an additional 90,107 shares during the period. Woodline Partners LP boosted its position in shares of 89bio by 77.5% in the first quarter. Woodline Partners LP now owns 700,754 shares of the company's stock valued at $5,094,000 after acquiring an additional 305,928 shares during the period. Exome Asset Management LLC boosted its position in shares of 89bio by 57.1% in the first quarter. Exome Asset Management LLC now owns 353,882 shares of the company's stock valued at $2,573,000 after acquiring an additional 128,559 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position in shares of 89bio by 23.3% in the first quarter. Goldman Sachs Group Inc. now owns 995,449 shares of the company's stock valued at $7,237,000 after acquiring an additional 188,367 shares during the period.
About 89bio
(
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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