What is Leerink Partnrs’ Forecast for 89bio FY2024 Earnings?

89bio, Inc. (NASDAQ:ETNB) – Equities research analysts at Leerink Partnrs increased their FY2024 EPS estimates for 89bio in a research note issued to investors on Sunday, February 2nd. Leerink Partnrs analyst T. Smith now anticipates that the company will post earnings per share of ($2.97) for the year, up from their previous estimate of ($3.08). The consensus estimate for 89bio’s current full-year earnings is ($3.21) per share. Leerink Partnrs also issued estimates for 89bio’s Q4 2024 earnings at ($0.57) EPS, FY2025 earnings at ($2.13) EPS, FY2026 earnings at ($2.35) EPS, FY2027 earnings at ($2.14) EPS and FY2028 earnings at $0.32 EPS.

ETNB has been the topic of several other research reports. Raymond James raised 89bio to a “strong-buy” rating in a research note on Thursday, December 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of 89bio in a research note on Saturday, February 1st. Cantor Fitzgerald reissued an “overweight” rating and issued a $29.00 target price on shares of 89bio in a research note on Thursday, January 2nd. HC Wainwright reaffirmed a “buy” rating and set a $29.00 price target on shares of 89bio in a research note on Tuesday, January 21st. Finally, UBS Group increased their price target on 89bio from $25.00 to $38.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $31.43.

89bio Stock Performance

NASDAQ:ETNB opened at $11.66 on Wednesday. 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 stock has a 50-day simple moving average of $7.89 and a two-hundred day simple moving average of $8.22. The firm has a market capitalization of $1.24 billion, a PE ratio of -4.01 and a beta of 1.17. 89bio has a 52-week low of $5.99 and a 52-week high of $16.63.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. acquired a new position in shares of 89bio in the 2nd quarter valued at $66,000. Kingswood Wealth Advisors LLC acquired a new position in 89bio during the fourth quarter worth $86,000. New York State Common Retirement Fund boosted its position in shares of 89bio by 24.3% during the fourth quarter. New York State Common Retirement Fund now owns 16,367 shares of the company’s stock worth $128,000 after buying an additional 3,200 shares during the period. China Universal Asset Management Co. Ltd. grew its stake in shares of 89bio by 76.2% in the third quarter. China Universal Asset Management Co. Ltd. now owns 20,370 shares of the company’s stock valued at $151,000 after buying an additional 8,810 shares in the last quarter. Finally, Intech Investment Management LLC purchased a new stake in shares of 89bio in the 3rd quarter valued at $160,000.

Insider Activity

In other 89bio news, Director Charles Mcwherter purchased 5,000 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The shares were purchased at an average cost of $6.55 per share, with a total value of $32,750.00. Following the completion of the purchase, the director now owns 15,000 shares in the company, valued at approximately $98,250. This represents a 50.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Rohan Palekar acquired 10,000 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The shares were acquired at an average cost of $8.35 per share, with a total value of $83,500.00. Following the purchase, the chief executive officer now owns 466,236 shares in the company, valued at $3,893,070.60. This represents a 2.19 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 5,744,285 shares of company stock valued at $50,235,694 in the last quarter. 2.80% of the stock is currently owned by company insiders.

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.