89bio (ETNB) Projected to Post Earnings on Thursday

89bio (NASDAQ:ETNB) is projected to post its quarterly earnings results before the market opens on Thursday, March 6th. Analysts expect 89bio to post earnings of ($0.60) per share for the quarter.

89bio Trading Down 0.1 %

Shares of ETNB opened at $9.21 on Thursday. 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’s 50-day moving average is $8.68 and its two-hundred day moving average is $8.45. 89bio has a twelve month low of $5.99 and a twelve month high of $16.63. The firm has a market capitalization of $977.42 million, a P/E ratio of -3.16 and a beta of 1.17.

Wall Street Analysts Forecast Growth

ETNB has been the topic of several research reports. Wolfe Research initiated coverage on shares of 89bio in a research report on Tuesday, February 4th. They issued an “outperform” rating on the stock. Raymond James upgraded shares of 89bio to a “strong-buy” rating in a research report on Thursday, December 12th. UBS Group increased their price target on shares of 89bio from $25.00 to $38.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Cantor Fitzgerald reiterated an “overweight” rating and issued a $29.00 price target on shares of 89bio in a research report on Thursday, January 2nd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of 89bio in a research note on Wednesday, February 19th. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, 89bio presently has a consensus rating of “Moderate Buy” and an average price target of $31.43.

Insider Activity at 89bio

In related news, Director Charles Mcwherter purchased 10,000 shares of the business’s stock in a transaction on Thursday, December 5th. The shares were bought at an average price of $8.00 per share, with a total value of $80,000.00. Following the completion of the purchase, the director now directly owns 10,000 shares in the company, valued at approximately $80,000. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Rohan Palekar purchased 5,000 shares of the business’s stock in a transaction on Friday, December 6th. The shares were bought at an average cost of $7.89 per share, for a total transaction of $39,450.00. Following the purchase, the chief executive officer now owns 471,236 shares of the company’s stock, valued at $3,718,052.04. This trade represents a 1.07 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 5,734,285 shares of company stock valued at $50,152,194. Company insiders own 2.80% of the company’s stock.

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.