What is Leerink Partnrs’ Estimate for 89bio FY2029 Earnings?

89bio, Inc. (NASDAQ:ETNB) – Research analysts at Leerink Partnrs issued their FY2029 earnings estimates for 89bio in a note issued to investors on Sunday, February 2nd. Leerink Partnrs analyst T. Smith forecasts that the company will post earnings of $3.68 per share for the year. The consensus estimate for 89bio’s current full-year earnings is ($3.21) per share.

A number of other equities research analysts have also weighed in on ETNB. Weiss Ratings restated a “sell (d-)” rating on shares of 89bio in a research note on Saturday. Cantor Fitzgerald restated an “overweight” rating and set a $29.00 price target on shares of 89bio in a research note on Thursday, January 2nd. UBS Group boosted their price target on 89bio from $25.00 to $38.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Wolfe Research assumed coverage on 89bio in a research note on Tuesday. They set an “outperform” rating on the stock. Finally, Raymond James upgraded 89bio to a “strong-buy” rating in a research note on Thursday, December 12th. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $31.43.

89bio Stock Performance

Shares of 89bio stock opened at $10.75 on Tuesday. The company has a market capitalization of $1.14 billion, a PE ratio of -3.69 and a beta of 1.17. The company has a debt-to-equity ratio of 0.09, a quick ratio of 11.66 and a current ratio of 11.66. The company has a 50-day simple moving average of $7.85 and a two-hundred day simple moving average of $8.20. 89bio has a one year low of $5.99 and a one year high of $16.63.

Insider Activity at 89bio

In related news, CEO Rohan Palekar acquired 10,000 shares of the stock in a transaction on Friday, November 22nd. The shares were acquired at an average price of $8.35 per share, for a total transaction of $83,500.00. Following the transaction, the chief executive officer now owns 466,236 shares in the company, valued at approximately $3,893,070.60. This trade represents a 2.19 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ra Capital Management, L.P. acquired 5,714,285 shares of the stock in a transaction on Thursday, January 30th. The stock was bought at an average price of $8.75 per share, for a total transaction of $49,999,993.75. Following the transaction, the director now owns 19,554,319 shares in the company, valued at approximately $171,100,291.25. This represents a 41.29 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 5,744,285 shares of company stock worth $50,235,694 over the last quarter. Insiders own 2.80% of the company’s stock.

Institutional Investors Weigh In On 89bio

Several hedge funds have recently bought and sold shares of ETNB. Janus Henderson Group PLC boosted its position in 89bio by 14.2% in the 3rd quarter. Janus Henderson Group PLC now owns 15,158,218 shares of the company’s stock worth $112,140,000 after purchasing an additional 1,882,108 shares in the last quarter. Erste Asset Management GmbH purchased a new stake in 89bio in the 3rd quarter worth approximately $5,631,000. Westfield Capital Management Co. LP raised its stake in shares of 89bio by 29.6% during the 3rd quarter. Westfield Capital Management Co. LP now owns 3,006,038 shares of the company’s stock worth $22,245,000 after buying an additional 686,673 shares during the period. Walleye Capital LLC raised its stake in shares of 89bio by 1,232.2% during the 3rd quarter. Walleye Capital LLC now owns 435,298 shares of the company’s stock worth $3,221,000 after buying an additional 402,624 shares during the period. Finally, Exome Asset Management LLC acquired a new position in shares of 89bio during the 3rd quarter worth approximately $2,224,000.

About 89bio

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.