89bio (NASDAQ:ETNB) has been given a consensus broker rating score of 1.33 (Strong Buy) from the three analysts that provide coverage for the stock, Zacks Investment Research reports. One analyst has rated the stock with a buy recommendation and two have given a strong buy recommendation to the company.

Brokerages have set a 12-month consensus price objective of $55.50 for the company and are predicting that the company will post ($0.96) EPS for the current quarter, according to Zacks. Zacks has also assigned 89bio an industry rank of 51 out of 254 based on the ratings given to its competitors.

Several equities analysts have recently commented on the stock. Zacks Investment Research upgraded shares of 89bio from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a report on Tuesday, June 2nd. Oppenheimer reissued a “buy” rating and set a $60.00 target price on shares of 89bio in a research note on Tuesday, May 19th.

Large investors have recently added to or reduced their stakes in the stock. RA Capital Management L.P. acquired a new position in 89bio during the 4th quarter worth $83,108,000. VR Adviser LLC acquired a new position in shares of 89bio during the first quarter worth about $24,043,000. Franklin Resources Inc. purchased a new stake in shares of 89bio during the fourth quarter worth approximately $6,573,000. JPMorgan Chase & Co. raised its holdings in 89bio by 18,905.2% in the first quarter. JPMorgan Chase & Co. now owns 182,070 shares of the company’s stock valued at $4,598,000 after acquiring an additional 181,112 shares in the last quarter. Finally, Alyeska Investment Group L.P. acquired a new stake in 89bio in the fourth quarter valued at approximately $3,140,000. Hedge funds and other institutional investors own 90.07% of the company’s stock.

ETNB traded down $1.68 during trading hours on Friday, reaching $21.25. The company’s stock had a trading volume of 131,905 shares. 89bio has a fifty-two week low of $14.00 and a fifty-two week high of $47.25. The business’s 50-day moving average is $25.45 and its 200-day moving average is $27.00.

89bio (NASDAQ:ETNB) last posted its earnings results on Wednesday, May 13th. The company reported ($0.76) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.86) by $0.10. As a group, equities research analysts forecast that 89bio will post -4.1 earnings per share for the current fiscal year.

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, BIO89-100, a glycoPEGylated analog of fibroblast growth factor 21 that is being developed for the treatment of nonalcoholic steatohepatitis.

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