Cantor Fitzgerald reissued their overweight rating on shares of 89bio (NASDAQ:ETNB – Free Report) in a report issued on Monday, Benzinga reports. Cantor Fitzgerald currently has a $29.00 target price on the stock.
ETNB has been the topic of several other reports. Bank of America restated a buy rating and issued a $30.00 target price on shares of 89bio in a research report on Monday, April 22nd. Evercore ISI lowered their price target on 89bio from $37.00 to $33.00 and set an outperform rating on the stock in a report on Wednesday, May 15th. HC Wainwright reaffirmed a buy rating and issued a $29.00 price objective on shares of 89bio in a report on Tuesday, June 11th. Finally, Oppenheimer reissued a market perform rating on shares of 89bio in a research note on Tuesday, March 5th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, 89bio has an average rating of Moderate Buy and a consensus price target of $26.67.
Check Out Our Latest Stock Report on 89bio
89bio Stock Down 1.6 %
89bio (NASDAQ:ETNB – Get Free Report) last posted its quarterly earnings results on Wednesday, May 15th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.46) by ($0.08). During the same quarter in the previous year, the business earned ($0.54) EPS. As a group, analysts forecast that 89bio will post -2.42 earnings per share for the current fiscal year.
Hedge Funds Weigh In On 89bio
Large investors have recently bought and sold shares of the business. Dynamic Technology Lab Private Ltd boosted its holdings in 89bio by 104.9% during the fourth quarter. Dynamic Technology Lab Private Ltd now owns 38,545 shares of the company’s stock worth $431,000 after buying an additional 19,730 shares during the last quarter. RTW Investments LP acquired a new stake in shares of 89bio in the 4th quarter valued at approximately $62,317,000. Westfield Capital Management Co. LP boosted its stake in 89bio by 34.2% during the 4th quarter. Westfield Capital Management Co. LP now owns 1,761,148 shares of the company’s stock worth $19,672,000 after acquiring an additional 449,262 shares during the last quarter. Monashee Investment Management LLC acquired a new position in 89bio during the fourth quarter valued at approximately $1,564,000. Finally, Orchard Capital Management LLC increased its stake in 89bio by 36.2% in the fourth quarter. Orchard Capital Management LLC now owns 739,208 shares of the company’s stock valued at $8,257,000 after purchasing an additional 196,329 shares in the last quarter.
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.
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