FY2028 Earnings Estimate for 89bio Issued By Leerink Partnrs

89bio, Inc. (NASDAQ:ETNB) – Equities research analysts at Leerink Partnrs cut their FY2028 earnings per share estimates for shares of 89bio in a research report issued to clients and investors on Thursday, November 7th. Leerink Partnrs analyst T. Smith now anticipates that the company will post earnings of $3.99 per share for the year, down from their previous forecast of $4.04. The consensus estimate for 89bio’s current full-year earnings is ($2.32) per share.

89bio (NASDAQ:ETNB) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($1.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.54) by ($0.85).

Other equities research analysts have also recently issued reports about the stock. Raymond James decreased their price objective on shares of 89bio from $53.00 to $49.00 and set a “strong-buy” rating for the company in a research report on Friday. HC Wainwright reaffirmed a “buy” rating and set a $29.00 price target on shares of 89bio in a report on Tuesday, August 6th. Cantor Fitzgerald reissued an “overweight” rating and set a $29.00 target price on shares of 89bio in a research report on Friday, September 20th. Finally, Royal Bank of Canada cut their price target on shares of 89bio from $13.00 to $12.00 and set a “sector perform” rating on the stock in a research note on Tuesday, August 6th. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $30.33.

89bio Stock Up 4.9 %

Shares of 89bio stock opened at $10.45 on Monday. The company has a quick ratio of 13.92, a current ratio of 13.92 and a debt-to-equity ratio of 0.04. 89bio has a 52-week low of $6.88 and a 52-week high of $16.63. The company has a market capitalization of $1.03 billion, a P/E ratio of -3.59 and a beta of 1.07. The company has a 50 day moving average of $8.18 and a 200 day moving average of $8.40.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Candriam S.C.A. grew its stake in 89bio by 173.6% during the 2nd quarter. Candriam S.C.A. now owns 848,079 shares of the company’s stock worth $6,793,000 after buying an additional 538,079 shares during the last quarter. Westfield Capital Management Co. LP grew its stake in 89bio by 22.9% during the 1st quarter. Westfield Capital Management Co. LP now owns 2,164,147 shares of the company’s stock worth $25,191,000 after buying an additional 402,999 shares during the last quarter. Vanguard Group Inc. grew its stake in 89bio by 9.6% during the 1st 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 last quarter. Harbor Capital Advisors Inc. grew its stake in 89bio by 165.3% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 227,930 shares of the company’s stock worth $1,687,000 after buying an additional 142,032 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new position in 89bio during the 2nd quarter worth approximately $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.