In a report released yesterday, Michael Morabito from Chardan Capital reiterated a Buy rating on 89bio (ETNB), with a price target of $59.00. The company’s shares closed last Thursday at $30.75.
According to TipRanks.com, Morabito is a 1-star analyst with an average return of -6.3% and a 50.0% success rate. Morabito covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals, NGM Biopharmaceuticals, and Viking Therapeutics.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for 89bio with a $56.00 average price target.
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Based on 89bio’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $10.54 million. In comparison, last year the company had a GAAP net loss of $4.44 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.
