89bio (NASDAQ:ETNB) Stock Rating Reaffirmed by Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of 89bio (NASDAQ:ETNB) in a research report released on Friday, Benzinga reports. They currently have a $29.00 price target on the stock.

Several other analysts have also recently issued reports on the company. HC Wainwright reiterated a buy rating and set a $29.00 target price on shares of 89bio in a research report on Tuesday, August 6th. Royal Bank of Canada cut their price objective on shares of 89bio from $13.00 to $12.00 and set a sector perform rating for the company in a report on Tuesday, August 6th. Finally, Raymond James boosted their target price on shares of 89bio from $50.00 to $53.00 and gave the stock a strong-buy rating in a report on Tuesday, August 6th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, 89bio presently has an average rating of Moderate Buy and a consensus price target of $30.14.

89bio Price Performance

NASDAQ ETNB opened at $7.67 on Friday. The company has a current ratio of 13.92, a quick ratio of 13.92 and a debt-to-equity ratio of 0.04. 89bio has a 12 month low of $6.57 and a 12 month high of $16.63. The stock has a market cap of $754.61 million, a price-to-earnings ratio of -3.82 and a beta of 1.11. The company’s 50 day moving average is $8.58 and its two-hundred day moving average is $9.09.

89bio (NASDAQ:ETNB) last announced its quarterly earnings data on Monday, August 5th. The company reported ($0.48) EPS for the quarter, beating the consensus estimate of ($0.56) by $0.08. During the same quarter in the prior year, the company earned ($0.52) EPS. As a group, research analysts anticipate that 89bio will post -2.32 earnings per share for the current year.

Institutional Investors Weigh In On 89bio

Large investors have recently bought and sold shares of the business. Teacher Retirement System of Texas lifted its position in 89bio by 9.0% during the fourth quarter. Teacher Retirement System of Texas now owns 15,791 shares of the company’s stock valued at $176,000 after purchasing an additional 1,299 shares during the last quarter. PNC Financial Services Group Inc. grew its position in 89bio by 10.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 14,760 shares of the company’s stock worth $165,000 after acquiring an additional 1,360 shares in the last quarter. Ameritas Investment Partners Inc. grew its position in 89bio by 28.4% in the first quarter. Ameritas Investment Partners Inc. now owns 7,886 shares of the company’s stock worth $92,000 after acquiring an additional 1,744 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in 89bio by 12.8% during the second quarter. The Manufacturers Life Insurance Company now owns 31,355 shares of the company’s stock worth $251,000 after acquiring an additional 3,557 shares during the last quarter. Finally, Swiss National Bank raised its position in 89bio by 3.1% during the first quarter. Swiss National Bank now owns 147,200 shares of the company’s stock valued at $1,713,000 after purchasing an additional 4,400 shares during the period.

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.