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

89bio, Inc. (NASDAQ:ETNB) – Investment analysts at Leerink Partnrs increased their FY2029 earnings per share (EPS) estimates for 89bio in a research note issued on Friday, February 28th. Leerink Partnrs analyst T. Smith now anticipates that the company will post earnings of $3.71 per share for the year, up from their prior forecast of $3.68. The consensus estimate for 89bio’s current full-year earnings is ($3.19) per share.

A number of other equities research analysts have also recently commented on ETNB. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of 89bio in a research note on Wednesday, February 19th. Raymond James raised 89bio to a “strong-buy” rating in a research note on Thursday, December 12th. Wolfe Research initiated coverage on 89bio in a research note on Tuesday, February 4th. They issued an “outperform” rating for the company. UBS Group boosted their target price on 89bio from $25.00 to $38.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Finally, 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. Two 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’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $30.29.

89bio Stock Down 4.5 %

Shares of 89bio stock opened at $8.48 on Monday. The company has a quick ratio of 11.66, a current ratio of 11.66 and a debt-to-equity ratio of 0.09. 89bio has a 12 month low of $5.99 and a 12 month high of $13.77. The business has a fifty day simple moving average of $8.78 and a 200 day simple moving average of $8.48. The stock has a market cap of $899.95 million, a PE ratio of -2.91 and a beta of 1.17.

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

Institutional Trading of 89bio

Institutional investors and hedge funds have recently bought and sold shares of the stock. Federated Hermes Inc. raised its holdings in 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 acquiring an additional 4,236 shares in the last quarter. Quarry LP bought a new stake in 89bio during the fourth quarter worth about $55,000. Kingswood Wealth Advisors LLC bought a new stake in 89bio during the fourth quarter worth about $86,000. Hsbc Holdings PLC bought a new stake in 89bio during the fourth quarter worth about $87,000. Finally, Sandia Investment Management LP raised 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 worth $88,000 after acquiring an additional 2,500 shares in the last quarter.

Insider Transactions at 89bio

In other news, insider Quoc Le-Nguyen sold 10,963 shares of the company’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $6.49, for a total transaction of $71,149.87. Following the completion of the transaction, the insider now directly owns 271,833 shares of the company’s stock, valued at $1,764,196.17. This represents a 3.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Rohan Palekar acquired 5,000 shares of 89bio stock in a transaction dated Friday, December 6th. The shares were purchased at an average cost of $7.89 per share, with a total value of $39,450.00. Following the completion of the transaction, the chief executive officer now directly owns 471,236 shares of the company’s stock, valued at $3,718,052.04. This trade represents a 1.07 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 5,734,285 shares of company stock valued at $50,152,194 over the last three months. Company 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.