89bio (ETNB) Expected to Announce Quarterly Earnings on Thursday

89bio (NASDAQ:ETNB - Get Free Report) is expected to be posting its Q4 2024 quarterly earnings results before the market opens on Thursday, March 6th. Analysts expect 89bio to post earnings of ($0.60) per share for the quarter.

89bio (NASDAQ:ETNB - Get Free Report) last issued its quarterly earnings results on Thursday, March 6th. The company reported ($1.02) EPS for the quarter, missing analysts' consensus estimates of ($0.60) by ($0.42). On average, analysts expect 89bio to post $-3 EPS for the current fiscal year and $-3 EPS for the next fiscal year.

89bio Stock Performance

Shares of ETNB stock traded down $0.09 during mid-day trading on Friday, reaching $9.23. The stock had a trading volume of 2,487,430 shares, compared to its average volume of 2,636,167. 89bio has a 1-year low of $5.99 and a 1-year high of $16.63. The firm has a market cap of $979.54 million, a price-to-earnings ratio of -3.17 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. The business's fifty day moving average is $8.75 and its 200-day moving average is $8.47.

Insiders Place Their Bets

In other news, Director Ra Capital Management, L.P. bought 5,714,285 shares of 89bio stock in a transaction on Thursday, January 30th. The stock was acquired at an average price of $8.75 per share, with a total value of $49,999,993.75. Following the completion of the acquisition, the director now directly owns 19,554,319 shares of the company's stock, valued at $171,100,291.25. The trade was a 41.29 % 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 link. Also, CEO Rohan Palekar bought 5,000 shares of 89bio stock in a transaction dated Friday, December 6th. The stock was acquired at an average price 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 approximately $3,718,052.04. The trade was a 1.07 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 5,734,285 shares of company stock worth $50,152,194. Company insiders own 2.80% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of 89bio in a research report on Wednesday, February 19th. UBS Group raised their target price on shares of 89bio from $25.00 to $38.00 and gave the stock a "buy" rating in a report on Friday, January 31st. Wolfe Research started coverage on shares of 89bio in a report on Tuesday, February 4th. They issued an "outperform" rating on the stock. HC Wainwright reiterated a "buy" rating and set a $21.00 price objective (down previously from $29.00) on shares of 89bio in a research note on Friday. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $29.00 price objective on shares of 89bio in a report on Thursday, January 2nd. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $30.29.

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.