89bio (NASDAQ:ETNB) Earns Neutral Rating from Analysts at The Goldman Sachs Group

The Goldman Sachs Group started coverage on shares of 89bio (NASDAQ:ETNB) in a report released on Friday, Marketbeat Ratings reports. The brokerage issued a neutral rating and a $11.00 price target on the stock.

Several other analysts have also commented on the stock. Wolfe Research began coverage on shares of 89bio in a research report on Tuesday, February 4th. They set an “outperform” rating for the company. Citigroup began coverage on shares of 89bio in a research report on Thursday. They set a “buy” rating and a $25.00 price target for the company. 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. Weiss Ratings reissued a “sell (d-)” rating on shares of 89bio in a research report on Friday, March 7th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $29.00 price target on shares of 89bio in a research report on Thursday, January 2nd. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $27.56.

89bio Stock Up 3.5 %

NASDAQ:ETNB opened at $8.47 on Friday. 89bio has a 1-year low of $5.99 and a 1-year high of $13.71. The company has a 50-day moving average of $8.80 and a 200 day moving average of $8.44. The firm has a market cap of $1.24 billion, a PE ratio of -2.91 and a beta of 1.17. The company has a debt-to-equity ratio of 0.09, a current ratio of 11.66 and a quick ratio of 11.66.

89bio (NASDAQ:ETNB) last released its quarterly earnings data on Thursday, March 6th. The company reported ($1.02) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.42). As a group, research analysts anticipate that 89bio will post -3.19 EPS for the current fiscal year.

Insider Activity

In other 89bio news, Director Charles Mcwherter purchased 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The shares were bought at an average price of $6.55 per share, for a total transaction of $32,750.00. Following the acquisition, the director now owns 15,000 shares in the company, valued at $98,250. This represents a 50.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Quoc Le-Nguyen sold 10,963 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $6.49, for a total transaction of $71,149.87. Following the completion of the transaction, the insider now owns 271,833 shares in the company, valued at approximately $1,764,196.17. This trade represents a 3.88 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.80% of the company’s stock.

Hedge Funds Weigh In On 89bio

Several hedge funds and other institutional investors have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in 89bio by 2.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 51,154 shares of the company’s stock worth $400,000 after buying an additional 1,169 shares during the period. Victory Capital Management Inc. increased its holdings in 89bio by 11.5% in the 4th quarter. Victory Capital Management Inc. now owns 13,969 shares of the company’s stock worth $109,000 after buying an additional 1,437 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in 89bio by 1.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 140,998 shares of the company’s stock worth $1,043,000 after buying an additional 1,624 shares during the period. Sandia Investment Management LP increased its holdings in 89bio by 28.5% in the 4th quarter. Sandia Investment Management LP now owns 11,286 shares of the company’s stock worth $88,000 after buying an additional 2,500 shares during the period. Finally, New York State Common Retirement Fund increased its holdings in 89bio by 24.3% in the 4th quarter. New York State Common Retirement Fund now owns 16,367 shares of the company’s stock worth $128,000 after buying an additional 3,200 shares during the period.

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.