89bio, Inc. (NASDAQ:ETNB) Receives $30.33 Consensus PT from Analysts

Shares of 89bio, Inc. (NASDAQ:ETNB) have been assigned a consensus rating of “Moderate Buy” from the seven analysts that are covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokers that have covered the stock in the last year is $30.33.

ETNB has been the subject of a number of analyst reports. Raymond James lowered their target price on shares of 89bio from $53.00 to $49.00 and set a “strong-buy” rating for the company in a report on Friday, November 8th. HC Wainwright reaffirmed a “buy” rating and set a $29.00 price objective on shares of 89bio in a research note on Monday. Cantor Fitzgerald reiterated an “overweight” rating and issued a $29.00 price objective on shares of 89bio in a report on Friday, September 20th. Finally, Royal Bank of Canada reduced their target price on 89bio from $13.00 to $12.00 and set a “sector perform” rating on the stock in a report on Tuesday, August 6th.

89bio Trading Down 1.9 %

ETNB stock opened at $8.75 on Tuesday. The company has a quick ratio of 11.66, a current ratio of 11.66 and a debt-to-equity ratio of 0.09. 89bio has a twelve month low of $7.00 and a twelve month high of $16.63. The company has a market cap of $928.64 million, a P/E ratio of -3.06 and a beta of 1.07. The business has a fifty day moving average of $8.20 and a 200-day moving average of $8.42.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Candriam S.C.A. grew its position in shares of 89bio by 173.6% in the 2nd quarter. Candriam S.C.A. now owns 848,079 shares of the company’s stock valued at $6,793,000 after acquiring an additional 538,079 shares during the period. Westfield Capital Management Co. LP lifted its stake in 89bio by 22.9% in the 1st quarter. Westfield Capital Management Co. LP now owns 2,164,147 shares of the company’s stock valued at $25,191,000 after purchasing an additional 402,999 shares during the last quarter. Vanguard Group Inc. grew its holdings in 89bio by 9.6% during the first 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 during the period. Harbor Capital Advisors Inc. increased its position in 89bio by 165.3% during the third quarter. Harbor Capital Advisors Inc. now owns 227,930 shares of the company’s stock worth $1,687,000 after buying an additional 142,032 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new stake in 89bio in the second quarter valued at approximately $2,238,000.

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.