89BIO (NASDAQ:ETNB) Receives $22.50 Consensus Target Price from Analysts

by · The Markets Daily

89BIO (NASDAQ:ETNB – Get Free Report) has been assigned an average recommendation of “Hold” from the eleven research firms that are presently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $22.50.

A number of equities analysts have issued reports on the stock. Wall Street Zen cut shares of 89BIO to a “strong sell” rating in a research report on Saturday, November 1st. HC Wainwright cut 89BIO from a “buy” rating to a “neutral” rating and set a $14.50 target price on the stock. in a research note on Friday, September 19th. Zacks Research downgraded 89BIO from a “hold” rating to a “strong sell” rating in a report on Monday, October 20th. Raymond James Financial lowered 89BIO from a “strong-buy” rating to a “market perform” rating in a research report on Friday, September 19th. Finally, Wolfe Research lowered 89BIO from an “outperform” rating to a “peer perform” rating in a research report on Friday, September 19th.

Check Out Our Latest Stock Analysis on ETNB

Institutional Trading of 89BIO

Large investors have recently added to or reduced their stakes in the stock. Quarry LP bought a new position in 89BIO in the 3rd quarter worth $37,000. CWM LLC increased its position in shares of 89BIO by 9,265.1% during the first quarter. CWM LLC now owns 5,900 shares of the company’s stock valued at $43,000 after buying an additional 5,837 shares during the period. KBC Group NV purchased a new position in shares of 89BIO during the second quarter valued at about $55,000. Osaic Holdings Inc. raised its stake in 89BIO by 25.9% in the second quarter. Osaic Holdings Inc. now owns 6,463 shares of the company’s stock worth $63,000 after buying an additional 1,330 shares in the last quarter. Finally, AlphaQuest LLC lifted its holdings in 89BIO by 213.8% in the second quarter. AlphaQuest LLC now owns 6,614 shares of the company’s stock worth $65,000 after buying an additional 4,506 shares during the period.

89BIO Stock Performance

NASDAQ:ETNB remained flat at $14.84 during midday trading on Friday. 55,645,300 shares of the company were exchanged, compared to its average volume of 5,915,994. The firm has a market capitalization of $2.20 billion, a PE ratio of -4.11 and a beta of 1.27. The company has a quick ratio of 15.19, a current ratio of 15.19 and a debt-to-equity ratio of 0.07. The business has a 50 day moving average of $14.81 and a two-hundred day moving average of $11.42. 89BIO has a 52 week low of $4.16 and a 52 week high of $15.06.

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.

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