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89BIO's (ETNB) "Sell (D-)" Rating Reiterated at Weiss Ratings

89BIO logo with Medical background

Key Points

  • 89BIO's stock has been reiterated with a "sell (D-)" rating by Weiss Ratings, reflecting ongoing concerns about its performance.
  • The company recently reported a quarterly earnings miss, with an earnings per share of ($0.71), falling short of the consensus estimate by ($0.22).
  • Analyst ratings for 89BIO show a mixed outlook, with a consensus rating of "Buy" and a target price of $26.29, despite Royal Bank of Canada lowering its target price from $12.00 to $11.00.
  • Looking to export and analyze 89BIO data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

89BIO (NASDAQ:ETNB - Get Free Report)'s stock had its "sell (d-)" rating reiterated by research analysts at Weiss Ratings in a research report issued to clients and investors on Thursday,Weiss Ratings reports.

Several other research analysts also recently weighed in on the stock. Royal Bank Of Canada cut their target price on shares of 89BIO from $12.00 to $11.00 and set a "sector perform" rating for the company in a research note on Friday, August 8th. Cantor Fitzgerald upgraded shares of 89BIO to a "strong-buy" rating in a report on Wednesday, April 30th. Two investment 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 company's stock. Based on data from MarketBeat.com, 89BIO presently has a consensus rating of "Buy" and a consensus price target of $26.29.

Check Out Our Latest Stock Report on 89BIO

89BIO Trading Down 0.4%

Shares of 89BIO stock opened at $9.10 on Thursday. 89BIO has a 1 year low of $4.16 and a 1 year high of $11.84. The company has a debt-to-equity ratio of 0.07, a current ratio of 15.19 and a quick ratio of 18.03. The business has a 50 day moving average price of $9.92 and a 200 day moving average price of $8.95. The company has a market capitalization of $1.35 billion, a P/E ratio of -2.52 and a beta of 1.28.

89BIO (NASDAQ:ETNB - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported ($0.71) earnings per share for the quarter, missing the consensus estimate of ($0.49) by ($0.22). During the same period in the prior year, the firm earned ($0.48) earnings per share. Sell-side analysts anticipate that 89BIO will post -3.19 EPS for the current fiscal year.

Insiders Place Their Bets

In other 89BIO news, insider Quoc Le-Nguyen sold 10,461 shares of the firm's stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $11.02, for a total value of $115,280.22. Following the sale, the insider directly owned 309,364 shares of the company's stock, valued at approximately $3,409,191.28. This trade represents a 3.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.60% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of ETNB. California State Teachers Retirement System grew its holdings in 89BIO by 1.6% in the second quarter. California State Teachers Retirement System now owns 105,654 shares of the company's stock valued at $1,038,000 after purchasing an additional 1,677 shares during the period. Raymond James Financial Inc. boosted its holdings in shares of 89BIO by 49.5% in the 2nd quarter. Raymond James Financial Inc. now owns 571,602 shares of the company's stock valued at $5,613,000 after purchasing an additional 189,311 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of 89BIO by 2.1% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,371 shares of the company's stock valued at $731,000 after purchasing an additional 1,515 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of 89BIO by 21.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 67,547 shares of the company's stock valued at $663,000 after buying an additional 12,137 shares during the period. Finally, Sei Investments Co. acquired a new stake in shares of 89BIO during the 2nd quarter worth $203,000.

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.

Further Reading

Analyst Recommendations for 89BIO (NASDAQ:ETNB)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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