Oppenheimer Thinks 89bio’s Stock is Going to Recover

Oppenheimer analyst Jay Olson maintained a Buy rating on 89bio (ETNB) today and set a price target of $60.00. The company’s shares closed last Thursday at $20.06, close to its 52-week low of $16.85.

According to TipRanks.com, Olson is a 4-star analyst with an average return of 11.1% and a 51.0% success rate. Olson covers the Healthcare sector, focusing on stocks such as Constellation Pharmaceuticals, Madrigal Pharmaceuticals, and Enanta Pharmaceuticals.

89bio has an analyst consensus of Strong Buy, with a price target consensus of $57.00, implying a 185.1% upside from current levels. In a report released yesterday, Raymond James also maintained a Buy rating on the stock.

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89bio’s market cap is currently $402.4M and has a P/E ratio of -6.50. The company has a Price to Book ratio of 2.09.

Based on the recent corporate insider activity of 29 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.

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