Analysts Set 89bio, Inc. (NASDAQ:ETNB) PT at $30.33

89bio, Inc. (NASDAQ:ETNB) has been given a consensus rating of “Moderate Buy” by the seven ratings firms that are presently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $30.33.

A number of equities research analysts recently weighed in on ETNB shares. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $29.00 price objective on shares of 89bio in a research report on Friday, September 20th. HC Wainwright restated a “buy” rating and issued a $29.00 target price on shares of 89bio in a research report on Monday, November 11th. Finally, Raymond James decreased their target price on shares of 89bio from $53.00 to $49.00 and set a “strong-buy” rating for the company in a research report on Friday, November 8th.

Insider Transactions at 89bio

In other news, Director Charles Mcwherter bought 10,000 shares of the stock in a transaction on Thursday, December 5th. The stock was acquired at an average price of $8.00 per share, with a total value of $80,000.00. Following the acquisition, the director now directly owns 10,000 shares in the company, valued at approximately $80,000. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.80% of the company’s stock.

Institutional Investors Weigh In On 89bio

Several institutional investors and hedge funds have recently made changes to their positions in the business. Barclays PLC boosted its holdings in 89bio by 228.9% in the third quarter. Barclays PLC now owns 214,768 shares of the company’s stock worth $1,590,000 after acquiring an additional 149,479 shares in the last quarter. Geode Capital Management LLC boosted its holdings in 89bio by 8.4% in the third quarter. Geode Capital Management LLC now owns 2,074,970 shares of the company’s stock worth $15,358,000 after acquiring an additional 160,356 shares in the last quarter. Sphera Funds Management LTD. boosted its holdings in 89bio by 1.9% in the third quarter. Sphera Funds Management LTD. now owns 536,547 shares of the company’s stock worth $3,970,000 after acquiring an additional 10,000 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in 89bio by 186.6% in the third quarter. Jacobs Levy Equity Management Inc. now owns 130,894 shares of the company’s stock worth $969,000 after acquiring an additional 85,230 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in 89bio by 14.2% in the third quarter. Janus Henderson Group PLC now owns 15,158,218 shares of the company’s stock worth $112,140,000 after acquiring an additional 1,882,108 shares in the last quarter.

89bio Stock Performance

NASDAQ:ETNB opened at $8.03 on Friday. The company has a current ratio of 11.66, a quick ratio of 11.66 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $852.19 million, a price-to-earnings ratio of -2.76 and a beta of 1.12. The firm’s fifty day simple moving average is $8.36 and its 200 day simple moving average is $8.37. 89bio has a twelve month low of $7.00 and a twelve month high of $16.63.

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.