89bio (NASDAQ:ETNB) Earns “Buy” Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of 89bio (NASDAQ:ETNB) in a research note published on Monday morning,Benzinga reports. They currently have a $29.00 price target on the stock.

Several other brokerages have also recently issued reports on ETNB. Royal Bank of Canada lowered their price objective on shares of 89bio from $13.00 to $12.00 and set a “sector perform” rating on the stock in a research note on Tuesday, August 6th. Raymond James dropped their price target on 89bio from $53.00 to $49.00 and set a “strong-buy” rating on the stock in a report on Friday, November 8th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $29.00 target price on shares of 89bio in a report on Friday, September 20th. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, 89bio has an average rating of “Moderate Buy” and an average target price of $30.33.

89bio Trading Down 1.5 %

Shares of ETNB stock opened at $8.92 on Monday. The stock has a 50-day simple moving average of $8.19 and a 200 day simple moving average of $8.42. The stock has a market capitalization of $946.15 million, a P/E ratio of -3.14 and a beta of 1.07. 89bio has a fifty-two week low of $7.00 and a fifty-two week high of $16.63. The company has a quick ratio of 11.66, a current ratio of 11.66 and a debt-to-equity ratio of 0.09.

Institutional Trading of 89bio

Large investors have recently added to or reduced their stakes in the company. Janus Henderson Group PLC boosted its position in 89bio by 41.4% during the 1st quarter. Janus Henderson Group PLC now owns 12,603,382 shares of the company’s stock worth $146,646,000 after acquiring an additional 3,688,241 shares during the period. RA Capital Management L.P. increased its stake in shares of 89bio by 11.8% in the first quarter. RA Capital Management L.P. now owns 12,766,948 shares of the company’s stock worth $148,607,000 after acquiring an additional 1,350,000 shares during the last quarter. Westfield Capital Management Co. LP boosted its position in 89bio by 29.6% during the third quarter. Westfield Capital Management Co. LP now owns 3,006,038 shares of the company’s stock valued at $22,245,000 after purchasing an additional 686,673 shares during the last quarter. Candriam S.C.A. increased its position in 89bio by 173.6% in the 2nd quarter. Candriam S.C.A. now owns 848,079 shares of the company’s stock worth $6,793,000 after purchasing an additional 538,079 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of 89bio by 9.6% during the 1st quarter. Vanguard Group Inc. now owns 4,722,971 shares of the company’s stock worth $54,975,000 after purchasing an additional 415,386 shares in the last quarter.

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.