Cantor Fitzgerald Reaffirms Overweight Rating for 89bio (NASDAQ:ETNB)

Cantor Fitzgerald reaffirmed their overweight rating on shares of 89bio (NASDAQ:ETNB) in a research report report published on Monday, Benzinga reports. They currently have a $29.00 target price on the stock.

Several other research firms have also recently issued reports on ETNB. HC Wainwright reissued a buy rating and issued a $29.00 target price on shares of 89bio in a research report on Tuesday, June 11th. Evercore ISI decreased their price target on shares of 89bio from $37.00 to $33.00 and set an outperform rating on the stock in a report on Wednesday, May 15th. Bank of America restated a buy rating and set a $30.00 price objective on shares of 89bio in a report on Monday, April 22nd. Finally, Oppenheimer reiterated a market perform rating on shares of 89bio in a report on Tuesday, March 5th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $26.67.

89bio Trading Down 1.6 %

Shares of 89bio stock opened at $7.48 on Monday. 89bio has a fifty-two week low of $6.57 and a fifty-two week high of $19.61. The business’s fifty day moving average is $8.45 and its two-hundred day moving average is $9.98. The company has a quick ratio of 15.03, a current ratio of 15.03 and a debt-to-equity ratio of 0.05. The firm has a market cap of $735.88 million, a PE ratio of -3.72 and a beta of 1.10.

89bio (NASDAQ:ETNB) last released its earnings results on Wednesday, May 15th. The company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.46) by ($0.08). During the same period in the previous year, the firm posted ($0.54) earnings per share. Analysts anticipate that 89bio will post -2.42 earnings per share for the current year.

Institutional Trading of 89bio

Several large investors have recently added to or reduced their stakes in ETNB. RTW Investments LP acquired a new stake in 89bio in the fourth quarter valued at approximately $62,317,000. Janus Henderson Group PLC grew its holdings in 89bio by 41.4% during the 1st quarter. Janus Henderson Group PLC now owns 12,603,382 shares of the company’s stock valued at $146,646,000 after purchasing an additional 3,688,241 shares in the last quarter. BVF Inc. IL increased its stake in 89bio by 119.2% during the 4th quarter. BVF Inc. IL now owns 4,047,354 shares of the company’s stock worth $45,209,000 after buying an additional 2,201,200 shares during the period. Frazier Life Sciences Management L.P. acquired a new position in 89bio in the 4th quarter worth $22,340,000. Finally, RA Capital Management L.P. boosted its position in 89bio by 11.8% in the 1st quarter. RA Capital Management L.P. now owns 12,766,948 shares of the company’s stock valued at $148,607,000 after buying an additional 1,350,000 shares during the last quarter.

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.