Research Analysts Set Expectations for 89bio FY2024 Earnings

89bio, Inc. (NASDAQ:ETNB) – HC Wainwright cut their FY2024 earnings per share (EPS) estimates for shares of 89bio in a report issued on Monday, November 11th. HC Wainwright analyst E. Arce now forecasts that the company will post earnings of ($3.50) per share for the year, down from their prior estimate of ($2.06). HC Wainwright currently has a “Buy” rating and a $29.00 price objective on the stock. The consensus estimate for 89bio’s current full-year earnings is ($2.83) per share. HC Wainwright also issued estimates for 89bio’s Q4 2024 earnings at ($1.02) EPS, Q1 2025 earnings at ($0.77) EPS, Q2 2025 earnings at ($0.65) EPS, Q3 2025 earnings at ($0.67) EPS, Q4 2025 earnings at ($0.75) EPS, FY2025 earnings at ($2.83) EPS, FY2026 earnings at ($3.39) EPS, FY2027 earnings at ($2.17) EPS and FY2028 earnings at ($0.57) EPS.

ETNB has been the subject of several other research reports. Raymond James lowered their price target on shares of 89bio from $53.00 to $49.00 and set a “strong-buy” rating for the company in a report on Friday, November 8th. Royal Bank of Canada lowered their target price on shares of 89bio from $13.00 to $12.00 and set a “sector perform” rating for the company in a research note on Tuesday, August 6th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $29.00 price target on shares of 89bio in a research report on Friday, September 20th. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $30.33.

89bio Price Performance

89bio stock opened at $8.75 on Thursday. The stock’s 50 day moving average is $8.20 and its 200 day moving average is $8.42. 89bio has a one year low of $7.00 and a one year high of $16.63. The firm has a market cap of $928.64 million, a P/E ratio of -3.06 and a beta of 1.07. The company has a debt-to-equity ratio of 0.09, a current ratio of 11.66 and a quick ratio of 11.66.

Institutional Investors Weigh In On 89bio

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Erste Asset Management GmbH acquired a new stake in shares of 89bio in the 3rd quarter valued at about $5,631,000. PDT Partners LLC bought a new position in 89bio in the third quarter worth approximately $1,252,000. Walleye Capital LLC grew its stake in 89bio by 1,232.2% in the third quarter. Walleye Capital LLC now owns 435,298 shares of the company’s stock valued at $3,221,000 after acquiring an additional 402,624 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in 89bio by 1.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 140,998 shares of the company’s stock valued at $1,043,000 after acquiring an additional 1,624 shares during the period. Finally, FMR LLC increased its holdings in shares of 89bio by 2,153.2% during the third quarter. FMR LLC now owns 73,386 shares of the company’s stock valued at $543,000 after acquiring an additional 70,129 shares in the last quarter.

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.