89bio (NASDAQ:ETNB) Posts Quarterly Earnings Results, Beats Expectations By $0.08 EPS

89bio (NASDAQ:ETNB) posted its quarterly earnings data on Monday. The company reported ($0.48) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.56) by $0.08, Briefing.com reports. During the same period last year, the firm posted ($0.52) EPS.

89bio Trading Down 5.8 %

Shares of NASDAQ:ETNB opened at $8.39 on Tuesday. The stock has a market capitalization of $825.44 million, a PE ratio of -4.17 and a beta of 1.10. 89bio has a 1 year low of $6.57 and a 1 year high of $18.30. The firm has a fifty day moving average price of $8.42 and a 200 day moving average price of $9.59. The company has a current ratio of 15.03, a quick ratio of 15.03 and a debt-to-equity ratio of 0.05.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. HC Wainwright reiterated a “buy” rating and issued a $29.00 price target on shares of 89bio in a research note on Tuesday. Cantor Fitzgerald reissued an “overweight” rating and set a $29.00 target price on shares of 89bio in a report on Monday, July 1st. Bank of America reaffirmed a “buy” rating and issued a $30.00 price target on shares of 89bio in a report on Monday, April 22nd. Finally, Evercore ISI cut their target price on shares of 89bio from $37.00 to $33.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 15th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $26.67.

About 89bio

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.