89bio (NASDAQ:ETNB) Issues Quarterly Earnings Results

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

89bio Stock Down 4.2 %

Shares of 89bio stock traded down $0.33 during trading hours on Wednesday, hitting $7.61. 368,809 shares of the company’s stock traded hands, compared to its average volume of 1,100,135. The stock has a 50 day simple moving average of $8.42 and a 200-day simple moving average of $9.57. The company has a quick ratio of 15.03, a current ratio of 15.03 and a debt-to-equity ratio of 0.05. The company has a market cap of $748.70 million, a PE ratio of -3.95 and a beta of 1.10. 89bio has a twelve month low of $6.57 and a twelve month high of $18.30.

Analyst Ratings Changes

Several research firms have commented on ETNB. Bank of America reaffirmed a “buy” rating and set a $30.00 price objective on shares of 89bio in a research note on Monday, April 22nd. HC Wainwright reiterated a “buy” rating and set a $29.00 target price on shares of 89bio in a research report on Tuesday. Royal Bank of Canada dropped their target price on 89bio from $13.00 to $12.00 and set a “sector perform” rating on the stock in a research report on Tuesday. Raymond James upped their price target on 89bio from $50.00 to $53.00 and gave the stock a “strong-buy” rating in a report on Tuesday. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $29.00 target price on shares of 89bio in a report on Monday, July 1st. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.14.

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.