89bio (NASDAQ:ETNB) Rating Reiterated by Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of 89bio (NASDAQ:ETNB) in a report released on Monday, Benzinga reports. The firm currently has a $29.00 price target on the stock.

Other analysts also recently issued research reports about the stock. HC Wainwright reiterated a buy rating and issued a $29.00 price objective on shares of 89bio in a report on Tuesday, June 11th. Bank of America reissued a buy rating and issued a $30.00 price target on shares of 89bio in a research note on Monday, April 22nd. Oppenheimer reissued a market perform rating on shares of 89bio in a research note on Tuesday, March 5th. Finally, Evercore ISI dropped their price target on shares of 89bio from $37.00 to $33.00 and set an outperform rating for the company in a research note on Wednesday, May 15th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $28.14.

89bio Stock Down 3.1 %

ETNB stock opened at $7.76 on Monday. The company has a market cap of $763.43 million, a price-to-earnings ratio of -3.86 and a beta of 1.10. The company has a current ratio of 15.03, a quick ratio of 15.03 and a debt-to-equity ratio of 0.05. 89bio has a 12 month low of $6.57 and a 12 month high of $19.89. The firm has a 50-day moving average of $8.55 and a two-hundred day moving average of $10.06.

89bio (NASDAQ:ETNB) last released its quarterly earnings data on Wednesday, May 15th. The company reported ($0.54) EPS for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.08). During the same quarter in the prior year, the business posted ($0.54) EPS. As a group, analysts forecast that 89bio will post -2.42 earnings per share for the current fiscal year.

Hedge Funds Weigh In On 89bio

Hedge funds have recently made changes to their positions in the stock. Wetzel Investment Advisors Inc. purchased a new position in shares of 89bio during the 4th quarter worth approximately $34,000. AJOVista LLC purchased a new position in shares of 89bio during the 4th quarter worth approximately $42,000. Ameritas Investment Partners Inc. boosted its position 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 worth $92,000 after purchasing an additional 1,744 shares during the period. China Universal Asset Management Co. Ltd. boosted its position in shares of 89bio by 349.7% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 8,747 shares of the company’s stock worth $98,000 after purchasing an additional 6,802 shares during the period. Finally, Quest Partners LLC purchased a new position in shares of 89bio during the 4th quarter worth approximately $117,000.

89bio Company Profile

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.