89bio (NASDAQ:ETNB) Issues Earnings Results

89bio (NASDAQ:ETNB - Get Free Report) issued its quarterly earnings data on Thursday. The company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.46) by ($0.08), Briefing.com reports. During the same quarter in the previous year, the company earned ($0.54) EPS.

89bio Price Performance

Shares of NASDAQ ETNB traded down $0.40 during midday trading on Friday, reaching $8.71. 708,974 shares of the company traded hands, compared to its average volume of 1,156,926. The firm has a market cap of $829.37 million, a PE ratio of -4.43 and a beta of 1.15. 89bio has a 12 month low of $6.57 and a 12 month high of $22.93. The company has a debt-to-equity ratio of 0.05, a quick ratio of 20.04 and a current ratio of 20.04. The stock's 50-day simple moving average is $10.67 and its 200-day simple moving average is $9.95.

Insider Transactions at 89bio

In related news, CEO Rohan Palekar sold 4,477 shares of 89bio stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $10.76, for a total value of $48,172.52. Following the completion of the sale, the chief executive officer now directly owns 486,889 shares in the company, valued at $5,238,925.64. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Rohan Palekar sold 4,477 shares of 89bio stock in a transaction on Monday, February 26th. The stock was sold at an average price of $10.76, for a total transaction of $48,172.52. Following the completion of the sale, the chief executive officer now directly owns 486,889 shares of the company's stock, valued at $5,238,925.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Ra Capital Management, L.P. acquired 1,350,000 shares of the company's stock in a transaction that occurred on Monday, March 4th. The stock was bought at an average price of $15.35 per share, with a total value of $20,722,500.00. Following the acquisition, the director now directly owns 12,431,584 shares of the company's stock, valued at approximately $190,824,814.40. The disclosure for this purchase can be found here. Company insiders own 2.80% of the company's stock.

Wall Street Analysts Forecast Growth

ETNB has been the subject of several analyst reports. Bank of America reaffirmed a "buy" rating and issued a $30.00 price objective on shares of 89bio in a research note on Monday, April 22nd. Cantor Fitzgerald reissued an "overweight" rating and set a $29.00 price objective on shares of 89bio in a report on Friday, April 5th. Evercore ISI boosted their target price on 89bio from $29.00 to $37.00 and gave the stock an "outperform" rating in a report on Wednesday, March 6th. HC Wainwright lowered their price target on 89bio from $31.00 to $29.00 and set a "buy" rating on the stock in a report on Friday. Finally, Royal Bank of Canada reduced 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 note on Friday, March 1st. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $28.71.

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.