FY2029 Earnings Forecast for 89bio Issued By Leerink Partnrs

89bio, Inc. (NASDAQ:ETNB) – Equities research analysts at Leerink Partnrs issued their FY2029 earnings per share estimates for shares of 89bio in a report issued on Sunday, February 2nd. Leerink Partnrs analyst T. Smith expects that the company will post earnings of $3.68 per share for the year. The consensus estimate for 89bio’s current full-year earnings is ($3.21) per share.

Several other research firms have also issued reports on ETNB. Cantor Fitzgerald restated an “overweight” rating and issued a $29.00 target price on shares of 89bio in a report on Thursday, January 2nd. Weiss Ratings reissued a “sell (d-)” rating on shares of 89bio in a research note on Saturday, February 1st. HC Wainwright reiterated a “buy” rating and issued a $29.00 price target on shares of 89bio in a report on Tuesday, January 21st. Wolfe Research initiated coverage on 89bio in a report on Tuesday. They set an “outperform” rating for the company. Finally, Raymond James upgraded 89bio to a “strong-buy” rating in a research note on Thursday, December 12th. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $31.43.

89bio Stock Up 8.5 %

Shares of ETNB opened at $11.66 on Tuesday. The company has a quick ratio of 11.66, a current ratio of 11.66 and a debt-to-equity ratio of 0.09. The business has a fifty day moving average of $7.89 and a 200 day moving average of $8.22. The company has a market cap of $1.24 billion, a PE ratio of -4.01 and a beta of 1.17. 89bio has a 52-week low of $5.99 and a 52-week high of $16.63.

Institutional Investors Weigh In On 89bio

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp boosted its position in 89bio by 3.9% during the fourth quarter. Bank of New York Mellon Corp now owns 248,156 shares of the company’s stock worth $1,941,000 after acquiring an additional 9,314 shares during the last quarter. New York State Common Retirement Fund boosted its holdings in shares of 89bio by 24.3% during the 4th quarter. New York State Common Retirement Fund now owns 16,367 shares of the company’s stock worth $128,000 after purchasing an additional 3,200 shares during the last quarter. Rhumbline Advisers boosted its holdings in shares of 89bio by 3.3% during the 4th quarter. Rhumbline Advisers now owns 129,980 shares of the company’s stock worth $1,016,000 after purchasing an additional 4,125 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its position in shares of 89bio by 22.4% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 24,932 shares of the company’s stock valued at $195,000 after purchasing an additional 4,562 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC acquired a new stake in shares of 89bio in the fourth quarter valued at approximately $86,000.

Insider Activity

In related news, CEO Rohan Palekar purchased 10,000 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was bought at an average price of $8.35 per share, with a total value of $83,500.00. Following the acquisition, the chief executive officer now owns 466,236 shares in the company, valued at $3,893,070.60. The trade was a 2.19 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ra Capital Management, L.P. bought 5,714,285 shares of the business’s stock in a transaction dated Thursday, January 30th. The shares were bought at an average cost of $8.75 per share, with a total value of $49,999,993.75. Following the purchase, the director now directly 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 ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 5,744,285 shares of company stock valued at $50,235,694 in the last ninety days. 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.