Cantor Fitzgerald Increases Earnings Estimates for 89bio

89bio, Inc. (NASDAQ:ETNB - Free Report) - Equities research analysts at Cantor Fitzgerald upped their FY2025 earnings per share estimates for 89bio in a report issued on Tuesday, March 4th. Cantor Fitzgerald analyst K. Kluska now anticipates that the company will post earnings of ($1.88) per share for the year, up from their prior estimate of ($2.44). Cantor Fitzgerald has a "Overweight" rating and a $29.00 price objective on the stock. The consensus estimate for 89bio's current full-year earnings is ($3.19) per share.

89bio (NASDAQ:ETNB - Get Free Report) last posted 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).

Several other equities research analysts have also recently commented on the company. Weiss Ratings restated a "sell (d-)" rating on shares of 89bio in a research note on Friday. HC Wainwright reaffirmed a "buy" rating and issued a $21.00 target price (down previously from $29.00) on shares of 89bio in a report on Friday, February 28th. UBS Group increased their price target 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 assumed coverage on 89bio in a report on Tuesday, February 4th. They issued an "outperform" rating on the stock. Finally, Raymond James raised 89bio to a "strong-buy" rating in a report on Thursday, December 12th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $30.29.

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89bio Stock Performance

ETNB traded down $0.70 on Thursday, hitting $7.15. 1,672,902 shares of the company traded hands, compared to its average volume of 2,504,271. 89bio has a 12-month low of $5.99 and a 12-month high of $13.71. The company has a 50 day moving average of $8.80 and a 200-day moving average of $8.47. 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 stock has a market capitalization of $1.04 billion, a PE ratio of -2.46 and a beta of 1.17.

Institutional Investors Weigh In On 89bio

A number of institutional investors have recently added to or reduced their stakes in ETNB. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of 89bio by 2.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 51,154 shares of the company's stock worth $400,000 after purchasing an additional 1,169 shares during the period. Victory Capital Management Inc. increased its holdings in 89bio by 11.5% in the 4th quarter. Victory Capital Management Inc. now owns 13,969 shares of the company's stock valued at $109,000 after purchasing an additional 1,437 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in 89bio by 1.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 140,998 shares of the company's stock valued at $1,043,000 after purchasing an additional 1,624 shares during the period. Sandia Investment Management LP lifted its stake in shares of 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 purchasing an additional 2,500 shares in the last quarter. Finally, New York State Common Retirement Fund grew its stake in shares of 89bio by 24.3% in the fourth quarter. New York State Common Retirement Fund now owns 16,367 shares of the company's stock valued at $128,000 after buying an additional 3,200 shares in the last quarter.

Insider Buying and Selling

In related news, insider Quoc Le-Nguyen sold 10,963 shares of the firm's stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $6.49, for a total value of $71,149.87. Following the sale, the insider now directly owns 271,833 shares of the company's stock, valued at approximately $1,764,196.17. This trade represents a 3.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ra Capital Management, L.P. purchased 5,714,285 shares of the company's stock in a transaction that occurred on 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 transaction, 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 position. The disclosure for this purchase can be found here. 2.80% of the stock is owned by company insiders.

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.