Shares of 89bio, Inc. (ETNB) have garnered a favorable “Strong Buy” rating from eight prominent ratings firms, according to a recent report by STA Research. ETNB stock has also demonstrated positive trading growth, catching the attention of investors. Additionally, analysts have provided a positive forecast for ETNB stock, highlighting its potential for growth in the future.
ETNB Stock Rating and Analysts’ Forecasts
89Bio Inc. has been assigned an average rating of “Strong Buy” by eight ratings firms, with three analysts specifically recommending a buy rating. Analysts have set an average 12-month target price of $32.63 for ETNB stock. This positive outlook is a reflection of the confidence analysts have in the company’s future prospects.
Recent Developments and Price Performance
TNB stock has been the topic of several research reports, indicating the market’s growing interest in the company. The recent increase in ETNB’s stock price further validates this trend, with a 5.4% trading growth. On Tuesday, the stock opened at $19.99, and it currently has a 50-day moving average price of $16.53 and a two-hundred day moving average price of $13.42. This upward momentum in ETNB’s stock price further solidifies its appeal to investors.
89bio Stock and Financials
89bio stock is closely linked to its performance. On Friday, March 10th, 89bio (ETNB) announced its quarterly earnings results, reporting an EPS of ($0.48) for the quarter. This exceeded the consensus estimate of ($0.63) by $0.15, showcasing the company’s positive financial performance. Analysts predict that 89bio will continue to exhibit strong growth, with an estimated average earnings per share of -1.92 for the current fiscal year.
Is ETNB a Good Stock to Buy?
Given the “Strong Buy” rating from analysts and the positive trading growth. Investors may be wondering if ETNB stock is a good buy. With the stock price on an upward trajectory and a positive outlook from analysts, 89Bio shows promise for potential investors. However, it is crucial for individual investors to conduct thorough research and consider their own investment goals and risk tolerance before making any investment decisions.
Conclusion
ETNB stock has received a favorable “Strong Buy” rating from analysts, with a positive forecast for its future performance. The recent trading growth and strong financial results reported by 89bio further reinforce the stock’s potential. While 89bio appears promising, potential investors should conduct their due diligence and consider their personal investment strategies before deciding to purchase the stock.
