89bio (NASDAQ:ETNB) Announces Quarterly Earnings Results

89bio (NASDAQ:ETNB) announced its quarterly earnings data on Monday. The company reported ($0.48) EPS for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.08, Briefing.com reports. During the same quarter in the previous year, the company posted ($0.52) EPS.

89bio Trading Down 2.9 %

Shares of ETNB stock traded down $0.23 during trading hours on Wednesday, hitting $7.71. 761,090 shares of the company were exchanged, compared to its average volume of 1,102,732. 89bio has a 1 year low of $6.57 and a 1 year high of $18.30. The firm has a fifty day moving average of $8.42 and a 200 day moving average of $9.57. The firm has a market cap of $758.54 million, a PE ratio of -3.84 and a beta of 1.10. The company has a quick ratio of 15.03, a current ratio of 15.03 and a debt-to-equity ratio of 0.05.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on ETNB shares. Evercore ISI cut their price target on shares of 89bio from $37.00 to $33.00 and set an “outperform” rating for the company in a report on Wednesday, May 15th. HC Wainwright restated a “buy” rating and issued a $29.00 price target on shares of 89bio in a research note on Tuesday. Raymond James increased their price objective on 89bio from $50.00 to $53.00 and gave the stock a “strong-buy” rating in a research report on Tuesday. Bank of America restated a “buy” rating and set a $30.00 target price on shares of 89bio in a research report on Monday, April 22nd. Finally, Royal Bank of Canada reduced their price objective on shares of 89bio from $13.00 to $12.00 and set a “sector perform” rating for the company in a research note on Tuesday. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.14.

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 is pegozafermin, a glycoPEGylated analog of fibroblast growth factor 21 for the treatment of nonalcoholic steatohepatitis; and for the treatment of severe hypertriglyceridemia.