What is HC Wainwright’s Estimate for 89bio FY2024 Earnings?

89bio, Inc. (NASDAQ:ETNB) – Research analysts at HC Wainwright decreased their FY2024 earnings per share (EPS) estimates for shares of 89bio in a note issued to investors on Monday, November 11th. HC Wainwright analyst E. Arce now anticipates that the company will earn ($3.50) per share for the year, down from their previous forecast of ($2.06). HC Wainwright has a “Buy” rating and a $29.00 price objective on the stock. The consensus estimate for 89bio’s current full-year earnings is ($3.22) 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.

A number of other equities analysts have also recently weighed in on the company. Raymond James lowered their price target on 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 price objective on 89bio from $13.00 to $12.00 and set a “sector perform” rating for the company in a research report on Tuesday, August 6th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $29.00 target price on shares of 89bio in a research note on Friday, September 20th. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, 89bio presently has an average rating of “Moderate Buy” and a consensus price target of $30.33.

89bio Stock Performance

89bio stock opened at $7.93 on Thursday. The stock has a market cap of $841.61 million, a price-to-earnings ratio of -2.78 and a beta of 1.07. 89bio has a 1-year low of $7.00 and a 1-year high of $16.63. The company has a debt-to-equity ratio of 0.09, a current ratio of 11.66 and a quick ratio of 11.66. The firm has a 50 day simple moving average of $8.20 and a 200-day simple moving average of $8.42.

Institutional Investors Weigh In On 89bio

Several large investors have recently modified their holdings of the stock. Candriam S.C.A. raised its holdings in 89bio by 173.6% during the second quarter. Candriam S.C.A. now owns 848,079 shares of the company’s stock worth $6,793,000 after purchasing an additional 538,079 shares in the last quarter. Westfield Capital Management Co. LP lifted its stake in shares of 89bio by 22.9% during the first quarter. Westfield Capital Management Co. LP now owns 2,164,147 shares of the company’s stock valued at $25,191,000 after buying an additional 402,999 shares during the period. Vanguard Group Inc. lifted its position in 89bio by 9.6% during the first quarter. Vanguard Group Inc. now owns 4,722,971 shares of the company’s stock worth $54,975,000 after buying an additional 415,386 shares during the period. Harbor Capital Advisors Inc. raised its stake in 89bio by 165.3% during the third quarter. Harbor Capital Advisors Inc. now owns 227,930 shares of the company’s stock worth $1,687,000 after purchasing an additional 142,032 shares during the period. Finally, Renaissance Technologies LLC acquired a new stake in 89bio during the second quarter worth about $2,238,000.

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.