After RBC Capital and Piper Sandler gave 89bio (NASDAQ: ETNB) a Buy rating last month, the company received another Buy, this time from Oppenheimer. Analyst Jay Olson maintained a Buy rating on 89bio today and set a price target of $60.00. The company’s shares closed last Monday at $36.75.
According to TipRanks.com, Olson ‘s ranking currently consits of 0 on a 0-5 ranking scale, with an average return of -6.5% and a 37.4% success rate. Olson covers the Healthcare sector, focusing on stocks such as Constellation Pharmaceuticals, Madrigal Pharmaceuticals, and ACADIA Pharmaceuticals.
89bio has an analyst consensus of Strong Buy, with a price target consensus of $53.80, implying a 35.2% upside from current levels. In a report issued on August 31, RBC Capital also maintained a Buy rating on the stock with a $45.00 price target.
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Based on 89bio’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $11.77 million. In comparison, last year the company had a GAAP net loss of $14.97 million.
Based on the recent corporate insider activity of 17 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ETNB in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
89bio, Inc. operates as a clinical-stage biopharmaceutical company. It focuses on the development and commercialization of innovative therapies for nonalcoholic steatohepatitis (NASH), liver and cardio-metabolic diseases. The company was founded on January 01, 2018 and is headquartered in San Francisco, CA.
