89bio FY2025 EPS Forecast Increased by Cantor Fitzgerald

89bio, Inc. (NASDAQ:ETNB) – Investment analysts at Cantor Fitzgerald upped their FY2025 earnings per share (EPS) estimates for 89bio in a report issued on Tuesday, March 4th. Cantor Fitzgerald analyst K. Kluska now anticipates that the company will earn ($1.88) per share for the year, up from their prior forecast of ($2.44). Cantor Fitzgerald has a “Overweight” rating and a $29.00 price target on the stock. The consensus estimate for 89bio’s current full-year earnings is ($3.19) per share.

89bio (NASDAQ:ETNB) last released its earnings results on Thursday, March 6th. The company reported ($1.02) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.42).

A number of other equities analysts have also weighed in on the stock. Wolfe Research began coverage on shares of 89bio in a research report on Tuesday, February 4th. They issued an “outperform” rating on the stock. UBS Group boosted their target price on 89bio from $25.00 to $38.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Raymond James raised shares of 89bio to a “strong-buy” rating in a research note on Thursday, December 12th. HC Wainwright restated a “buy” rating and issued a $21.00 target price (down from $29.00) on shares of 89bio in a report on Friday, February 28th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of 89bio in a report on Wednesday, February 19th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $30.29.

89bio Price Performance

89bio stock opened at $8.31 on Thursday. The stock has a market cap of $881.91 million, a P/E ratio of -2.86 and a beta of 1.17. 89bio has a 12-month low of $5.99 and a 12-month high of $13.71. The company has a current ratio of 11.66, a quick ratio of 11.66 and a debt-to-equity ratio of 0.09. The company has a fifty day simple moving average of $8.80 and a 200-day simple moving average of $8.48.

Institutional Trading of 89bio

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Federated Hermes Inc. grew its holdings in shares of 89bio by 206.9% during the fourth quarter. Federated Hermes Inc. now owns 6,283 shares of the company’s stock worth $49,000 after purchasing an additional 4,236 shares during the last quarter. Quarry LP purchased a new stake in 89bio in the 4th quarter valued at $55,000. Kingswood Wealth Advisors LLC purchased a new position in shares of 89bio in the 4th quarter worth approximately $86,000. Hsbc Holdings PLC purchased a new position in shares of 89bio in the 4th quarter worth about $87,000. Finally, Sandia Investment Management LP grew its holdings in 89bio by 28.5% during the fourth quarter. Sandia Investment Management LP now owns 11,286 shares of the company’s stock valued at $88,000 after purchasing an additional 2,500 shares during the period.

Insiders Place Their Bets

In other 89bio news, insider Quoc Le-Nguyen sold 10,963 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $6.49, for a total value of $71,149.87. Following the transaction, the insider now directly owns 271,833 shares of the company’s stock, valued at approximately $1,764,196.17. This trade represents a 3.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ra Capital Management, L.P. bought 5,714,285 shares of 89bio stock in a transaction on Thursday, January 30th. The shares were acquired at an average price of $8.75 per share, for a total transaction of $49,999,993.75. Following the completion of the acquisition, the director now owns 19,554,319 shares of the company’s stock, 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. Corporate insiders own 2.80% of the company’s stock.

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 is pegozafermin, a glycoPEGylated analog of fibroblast growth factor 21 for the treatment of nonalcoholic steatohepatitis; and for the treatment of severe hypertriglyceridemia.