89BIO (NASDAQ:ETNB) Receives $22.50 Consensus Target Price from Analysts

89BIO (NASDAQ:ETNB) has been assigned an average recommendation of “Hold” from the eleven research firms that are presently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $22.50.

A number of equities analysts have issued reports on the stock. Wall Street Zen cut shares of 89BIO to a “strong sell” rating in a research report on Saturday, November 1st. HC Wainwright cut 89BIO from a “buy” rating to a “neutral” rating and set a $14.50 target price on the stock. in a research note on Friday, September 19th. Zacks Research downgraded 89BIO from a “hold” rating to a “strong sell” rating in a report on Monday, October 20th. Raymond James Financial lowered 89BIO from a “strong-buy” rating to a “market perform” rating in a research report on Friday, September 19th. Finally, Wolfe Research lowered 89BIO from an “outperform” rating to a “peer perform” rating in a research report on Friday, September 19th.

Institutional Trading of 89BIO

Large investors have recently added to or reduced their stakes in the stock. Quarry LP bought a new position in 89BIO in the 3rd quarter worth $37,000. CWM LLC increased its position in shares of 89BIO by 9,265.1% during the first quarter. CWM LLC now owns 5,900 shares of the company’s stock valued at $43,000 after buying an additional 5,837 shares during the period. KBC Group NV purchased a new position in shares of 89BIO during the second quarter valued at about $55,000. Osaic Holdings Inc. raised its stake in 89BIO by 25.9% in the second quarter. Osaic Holdings Inc. now owns 6,463 shares of the company’s stock worth $63,000 after buying an additional 1,330 shares in the last quarter. Finally, AlphaQuest LLC lifted its holdings in 89BIO by 213.8% in the second quarter. AlphaQuest LLC now owns 6,614 shares of the company’s stock worth $65,000 after buying an additional 4,506 shares during the period.

89BIO Stock Performance

NASDAQ:ETNB remained flat at $14.84 during midday trading on Friday. 55,645,300 shares of the company were exchanged, compared to its average volume of 5,915,994. The firm has a market capitalization of $2.20 billion, a PE ratio of -4.11 and a beta of 1.27. The company has a quick ratio of 15.19, a current ratio of 15.19 and a debt-to-equity ratio of 0.07. The business has a 50 day moving average of $14.81 and a two-hundred day moving average of $11.42. 89BIO has a 52 week low of $4.16 and a 52 week high of $15.06.

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.