89bio (NASDAQ:ETNB) Issues Earnings Results, Beats Expectations By $0.08 EPS

89bio (NASDAQ:ETNB) posted 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 last year, the business posted ($0.52) earnings per share.

89bio Stock Performance

Shares of ETNB stock opened at $8.39 on Tuesday. The stock has a market cap of $825.44 million, a P/E ratio of -4.17 and a beta of 1.10. The company has a debt-to-equity ratio of 0.05, a current ratio of 15.03 and a quick ratio of 15.03. The company has a fifty day moving average price of $8.42 and a two-hundred day moving average price of $9.59. 89bio has a one year low of $6.57 and a one year high of $18.30.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $29.00 price objective on shares of 89bio in a report on Monday, July 1st. Bank of America reiterated a “buy” rating and set a $30.00 target price on shares of 89bio in a research report on Monday, April 22nd. Evercore ISI decreased their target price on shares of 89bio from $37.00 to $33.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 15th. Finally, HC Wainwright restated a “buy” rating and issued a $29.00 price target on shares of 89bio in a research report on Tuesday. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $26.67.

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.