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

89bio, Inc. (NASDAQ:ETNB) – Equities researchers at Leerink Partnrs raised their FY2029 earnings per share estimates for 89bio in a note issued to investors on Friday, February 28th. Leerink Partnrs analyst T. Smith now expects that the company will earn $3.71 per share for the year, up from their previous forecast of $3.68. The consensus estimate for 89bio’s current full-year earnings is ($3.19) per share.

A number of other brokerages have also weighed in on ETNB. HC Wainwright reiterated a “buy” rating and set a $21.00 target price (down previously from $29.00) on shares of 89bio in a research note on Friday, February 28th. Cantor Fitzgerald reiterated an “overweight” rating and set a $29.00 target price on shares of 89bio in a research note on Thursday, January 2nd. Raymond James upgraded 89bio to a “strong-buy” rating in a research note on Thursday, December 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of 89bio in a research note on Wednesday, February 19th. Finally, Wolfe Research initiated coverage on 89bio in a research report on Tuesday, February 4th. They set an “outperform” rating on the stock. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $30.29.

89bio Price Performance

Shares of NASDAQ ETNB opened at $8.48 on Monday. The firm has a market cap of $899.95 million, a P/E ratio of -2.91 and a beta of 1.17. The company has a current ratio of 11.66, a quick ratio of 11.66 and a debt-to-equity ratio of 0.09. 89bio has a 1-year low of $5.99 and a 1-year high of $13.77. The business’s 50 day moving average is $8.78 and its 200-day moving average is $8.48.

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

Institutional Investors Weigh In On 89bio

A number of large investors have recently modified their holdings of the business. Federated Hermes Inc. lifted its stake in shares of 89bio by 206.9% in the 4th quarter. Federated Hermes Inc. now owns 6,283 shares of the company’s stock valued at $49,000 after acquiring an additional 4,236 shares during the last quarter. Quarry LP bought a new position in shares of 89bio in the 4th quarter valued at $55,000. Kingswood Wealth Advisors LLC bought a new position in shares of 89bio in the 4th quarter valued at $86,000. Sandia Investment Management LP lifted its stake in shares of 89bio by 28.5% in the 4th quarter. Sandia Investment Management LP now owns 11,286 shares of the company’s stock valued at $88,000 after acquiring an additional 2,500 shares during the last quarter. Finally, Hsbc Holdings PLC bought a new position in shares of 89bio in the 4th quarter valued at $87,000.

Insider Buying and Selling at 89bio

In other 89bio news, Director Ra Capital Management, L.P. bought 5,714,285 shares of 89bio stock in a transaction on Thursday, January 30th. The shares were purchased at an average price of $8.75 per share, with a total value of $49,999,993.75. Following the acquisition, the director now owns 19,554,319 shares in the company, valued at $171,100,291.25. This trade represents a 41.29 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Charles Mcwherter bought 10,000 shares of 89bio stock in a transaction on Thursday, December 5th. The stock was acquired at an average cost of $8.00 per share, for a total transaction of $80,000.00. Following the acquisition, the director now owns 10,000 shares in the company, valued at approximately $80,000. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 5,734,285 shares of company stock valued at $50,152,194. 2.80% of the stock is currently owned by corporate 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.