89bio (NASDAQ:ETNB) Coverage Initiated by Analysts at Oppenheimer

Research analysts at Oppenheimer initiated coverage on shares of 89bio (NASDAQ:ETNB) in a report issued on Monday, BenzingaRatingsTable reports. The brokerage set an “outperform” rating and a $60.00 price target on the stock. Oppenheimer’s price objective points to a potential upside of 109.79% from the stock’s previous close.

A number of other research analysts also recently weighed in on ETNB. Bank of America initiated coverage on shares of 89bio in a research report on Monday. They issued a “neutral” rating and a $33.00 price objective for the company. Royal Bank of Canada started coverage on 89bio in a research report on Monday. They set an “outperform” rating and a $36.00 target price on the stock. Finally, Leerink Swann began coverage on 89bio in a research report on Monday. They set an “outperform” rating on the stock. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. 89bio has an average rating of “Buy” and a consensus target price of $46.00.

NASDAQ:ETNB opened at $28.60 on Monday. 89bio has a 1-year low of $16.60 and a 1-year high of $46.19.

In other 89bio news, major shareholder Longitude Capital Partners Iii bought 575,000 shares of 89bio stock in a transaction dated Monday, November 11th. The stock was acquired at an average cost of $27.00 per share, for a total transaction of $15,525,000.00. Also, Director Orbimed Advisors Llc acquired 837,500 shares of the business’s stock in a transaction on Monday, November 11th. The stock was acquired at an average price of $27.00 per share, with a total value of $22,612,500.00.

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, BIO89-100, a glycoPEGylated analog of fibroblast growth factor 21 that is being developed for the treatment of nonalcoholic steatohepatitis.

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Analyst Recommendations for 89bio (NASDAQ:ETNB)

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