HC Wainwright Reiterates “Buy” Rating for 89bio (NASDAQ:ETNB)

HC Wainwright restated their buy rating on shares of 89bio (NASDAQ:ETNB) in a report released on Monday,Benzinga reports. They currently have a $29.00 price objective on the stock. HC Wainwright also issued estimates for 89bio’s Q4 2024 earnings at ($1.02) EPS, FY2024 earnings at ($3.50) EPS, Q1 2025 earnings at ($0.77) EPS, Q2 2025 earnings at ($0.65) EPS, Q3 2025 earnings at ($0.67) EPS, Q4 2025 earnings at ($0.75) EPS, FY2025 earnings at ($2.83) EPS, FY2026 earnings at ($3.39) EPS, FY2027 earnings at ($2.17) EPS and FY2028 earnings at ($0.57) EPS.

Several other analysts also recently weighed in on ETNB. Royal Bank of Canada decreased their target price on 89bio from $13.00 to $12.00 and set a “sector perform” rating for the company in a research note on Tuesday, August 6th. Raymond James reduced their price objective on 89bio from $53.00 to $49.00 and set a “strong-buy” rating for the company in a research report on Friday, November 8th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $29.00 target price on shares of 89bio in a research report on Friday, September 20th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, 89bio presently has an average rating of “Moderate Buy” and an average price target of $30.33.

89bio Stock Performance

Shares of ETNB opened at $8.75 on Monday. 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 has a one year low of $7.00 and a one year high of $16.63. The company’s fifty day moving average price is $8.20 and its 200 day moving average price is $8.42. The company has a market capitalization of $928.64 million, a PE ratio of -3.06 and a beta of 1.07.

Institutional Investors Weigh In On 89bio

A number of institutional investors have recently bought and sold shares of the business. Janus Henderson Group PLC lifted its holdings in shares of 89bio by 41.4% during the 1st quarter. Janus Henderson Group PLC now owns 12,603,382 shares of the company’s stock worth $146,646,000 after acquiring an additional 3,688,241 shares during the period. RA Capital Management L.P. raised its position in 89bio by 11.8% in the first quarter. RA Capital Management L.P. now owns 12,766,948 shares of the company’s stock worth $148,607,000 after purchasing an additional 1,350,000 shares in the last quarter. Erste Asset Management GmbH bought a new position in 89bio during the third quarter worth about $5,631,000. Westfield Capital Management Co. LP boosted its holdings in 89bio by 29.6% during the third quarter. Westfield Capital Management Co. LP now owns 3,006,038 shares of the company’s stock valued at $22,245,000 after purchasing an additional 686,673 shares in the last quarter. Finally, Candriam S.C.A. grew its stake in shares of 89bio by 173.6% in the 2nd quarter. Candriam S.C.A. now owns 848,079 shares of the company’s stock valued at $6,793,000 after purchasing an additional 538,079 shares during the period.

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.