89bio (NASDAQ:ETNB) Receives Average Recommendation of “Strong Buy” from Analysts

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89bio (NASDAQ:ETNB) has received an average broker rating score of 1.33 (Strong Buy) from the three analysts that cover the company, Zacks Investment Research reports. One investment analyst has rated the stock with a buy rating and two have given a strong buy rating to the company.

Brokerages have set a 12-month consensus price objective of $57.50 for the company and are anticipating that the company will post ($0.83) EPS for the current quarter, according to Zacks. Zacks has also assigned 89bio an industry rank of 73 out of 255 based on the ratings given to related companies.

ETNB has been the subject of several research reports. Oppenheimer initiated coverage on shares of 89bio in a research report on Monday, December 9th. They issued an “outperform” rating and a $60.00 price objective for the company. Svb Leerink restated an “outperform” rating on shares of 89bio in a research report on Thursday, January 2nd. Bank of America initiated coverage on shares of 89bio in a research report on Monday, December 9th. They issued a “neutral” rating and a $33.00 price objective for the company. Leerink Swann initiated coverage on shares of 89bio in a research report on Monday, December 9th. They issued an “outperform” rating and a $55.00 price objective for the company. Finally, Royal Bank of Canada initiated coverage on shares of 89bio in a research report on Monday, December 9th. They issued an “outperform” rating and a $36.00 price objective for the company.

ETNB opened at $32.50 on Friday. 89bio has a 1-year low of $16.60 and a 1-year high of $46.19. The company has a 50-day moving average of $26.86.

89bio (NASDAQ:ETNB) last posted its quarterly earnings data on Wednesday, December 18th. The company reported ($30.63) earnings per share for the quarter, missing the consensus estimate of ($1.20) by ($29.43). Equities research analysts forecast that 89bio will post -35.76 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Eventide Asset Management LLC acquired a new stake in shares of 89bio during the 4th quarter worth about $9,202,000. Victory Capital Management Inc. acquired a new stake in shares of 89bio during the 4th quarter worth about $25,000. New York State Common Retirement Fund acquired a new stake in shares of 89bio during the 4th quarter worth about $103,000. American International Group Inc. acquired a new stake in shares of 89bio during the 4th quarter worth about $48,000. Finally, State Street Corp acquired a new stake in shares of 89bio during the 4th quarter worth about $549,000.

About 89bio

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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Analyst Recommendations for 89bio (NASDAQ:ETNB)

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