---
title: "89bio (NASDAQ:ETNB) Receives Overweight Rating from Cantor Fitzgerald"
description: "89bio (NASDAQ:ETNB) received an \"overweight\" rating and a $29.00 price target from Cantor Fitzgerald. Other analysts have also commented on ETNB, with two holding a hold rating and five giving it a bu"
type: "news"
locale: "en"
url: "https://longbridge.com/en/news/206143007.md"
published_at: "2024-06-12T17:33:54.000Z"
---

# 89bio (NASDAQ:ETNB) Receives Overweight Rating from Cantor Fitzgerald

> 89bio (NASDAQ:ETNB) received an "overweight" rating and a $29.00 price target from Cantor Fitzgerald. Other analysts have also commented on ETNB, with two holding a hold rating and five giving it a buy rating. The stock is currently trading at $9.84 with a 52-week low of $6.57 and a high of $22.93. It has a market capitalization of $968.06 million and is focused on developing therapies for liver and cardio-metabolic diseases.

89bio (NASDAQ:ETNB - Get Free Report)'s stock had its "overweight" rating reiterated by Cantor Fitzgerald in a report released on Wednesday, Benzinga reports. They currently have a $29.00 price target on the stock. Cantor Fitzgerald's price objective would indicate a potential upside of 194.72% from the company's previous close.

A number of other equities research analysts have also recently commented on ETNB. Royal Bank of Canada decreased their price target on 89bio from $15.00 to $14.00 and set a "sector perform" rating on the stock in a report on Friday, March 1st. Bank of America reissued a "buy" rating and set a $30.00 price target on shares of 89bio in a report on Monday, April 22nd. Oppenheimer reissued a "market perform" rating on shares of 89bio in a report on Tuesday, March 5th. HC Wainwright reissued a "buy" rating and set a $29.00 price target on shares of 89bio in a report on Tuesday. Finally, Evercore ISI decreased their price target on 89bio from $37.00 to $33.00 and set an "outperform" rating on the stock in a report on Wednesday, May 15th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $28.14.

**View Our Latest Analysis on 89bio**

## 89bio Stock Performance

NASDAQ ETNB traded up $1.16 on Wednesday, hitting $9.84. 355,360 shares of the company traded hands, compared to its average volume of 1,108,966. The company has a market capitalization of $968.06 million, a price-to-earnings ratio of -4.91 and a beta of 1.11. The company has a current ratio of 15.03, a quick ratio of 15.03 and a debt-to-equity ratio of 0.05. The business's 50 day moving average price is $8.98 and its 200-day moving average price is $10.13. 89bio has a 52-week low of $6.57 and a 52-week high of $22.93.

89bio (NASDAQ:ETNB - Get Free Report) last released its earnings results on Wednesday, May 15th. The company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.46) by ($0.08). During the same quarter in the prior year, the firm posted ($0.54) earnings per share. Equities analysts expect that 89bio will post -2.42 earnings per share for the current year.

## Institutional Investors Weigh In On 89bio

Several large investors have recently added to or reduced their stakes in the stock. New York State Common Retirement Fund increased its stake in 89bio by 4.8% during the fourth quarter. New York State Common Retirement Fund now owns 26,041 shares of the company's stock worth $291,000 after acquiring an additional 1,190 shares during the last quarter. Teacher Retirement System of Texas boosted its position in shares of 89bio by 9.0% during the fourth quarter. Teacher Retirement System of Texas now owns 15,791 shares of the company's stock valued at $176,000 after buying an additional 1,299 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of 89bio by 10.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 14,760 shares of the company's stock valued at $165,000 after buying an additional 1,360 shares during the period. Ameritas Investment Partners Inc. boosted its position in shares of 89bio by 28.4% during the first quarter. Ameritas Investment Partners Inc. now owns 7,886 shares of the company's stock valued at $92,000 after buying an additional 1,744 shares during the period. Finally, Wetzel Investment Advisors Inc. boosted its position in shares of 89bio by 66.7% during the first quarter. Wetzel Investment Advisors Inc. now owns 5,000 shares of the company's stock valued at $58,000 after buying an additional 2,000 shares during the period.

## About 89bio

(Get Free Report)

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.

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*This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.*

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> **Disclaimer**: This article is for reference only and does not constitute any investment advice.
