89bio (NASDAQ:ETNB) Given Buy Rating at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of 89bio (NASDAQ:ETNB) in a research report sent to investors on Monday morning,Benzinga reports. They currently have a $29.00 price objective on the stock. HC Wainwright also issued estimates for 89bio’s Q4 2024 earnings at ($1.02) EPS, FY2024 earnings at ($3.50) EPS, Q1 2025 earnings at ($0.77) EPS, Q2 2025 earnings at ($0.65) EPS, Q3 2025 earnings at ($0.67) EPS, Q4 2025 earnings at ($0.75) EPS, FY2025 earnings at ($2.83) EPS, FY2026 earnings at ($3.39) EPS, FY2027 earnings at ($2.17) EPS and FY2028 earnings at ($0.57) EPS.

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

89bio Trading Down 1.9 %

NASDAQ:ETNB opened at $8.75 on Monday. The stock has a fifty day simple moving average of $8.20 and a 200 day simple moving average of $8.42. The firm has a market capitalization of $928.64 million, a price-to-earnings ratio of -3.06 and a beta of 1.07. 89bio has a 1-year low of $7.00 and a 1-year 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 Investors Weigh In On 89bio

Institutional investors have recently made changes to their positions in the company. Quest Partners LLC increased its holdings in 89bio by 226.2% in the second quarter. Quest Partners LLC now owns 8,113 shares of the company’s stock worth $65,000 after buying an additional 5,626 shares during the last quarter. Northwestern Mutual Wealth Management Co. acquired a new position in shares of 89bio during the 2nd quarter worth $66,000. Ameritas Investment Partners Inc. raised its holdings in shares of 89bio by 28.4% during the 1st quarter. Ameritas Investment Partners Inc. now owns 7,886 shares of the company’s stock valued at $92,000 after purchasing an additional 1,744 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in shares of 89bio by 76.2% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 20,370 shares of the company’s stock valued at $151,000 after purchasing an additional 8,810 shares during the last quarter. Finally, Intech Investment Management LLC bought a new stake in 89bio in the third quarter worth $160,000.

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.