FY2028 Earnings Estimate for 89bio Issued By Leerink Partnrs

89bio, Inc. (NASDAQ:ETNB - Free Report) - Equities researchers at Leerink Partnrs dropped their FY2028 earnings per share estimates for 89bio in a research note issued on Thursday, November 7th. Leerink Partnrs analyst T. Smith now forecasts that the company will post earnings per share of $3.99 for the year, down from their previous estimate of $4.04. The consensus estimate for 89bio's current full-year earnings is ($2.32) per share.

A number of other brokerages have also issued reports on ETNB. Raymond James dropped their price objective on shares of 89bio from $53.00 to $49.00 and set a "strong-buy" rating for the company in a report on Friday. Royal Bank of Canada decreased their price objective on 89bio from $13.00 to $12.00 and set a "sector perform" rating on the stock in a report on Tuesday, August 6th. HC Wainwright reissued a "buy" rating and set a $29.00 target price on shares of 89bio in a research note on Monday. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $29.00 price target on shares of 89bio in a research note on Friday, September 20th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, 89bio has an average rating of "Moderate Buy" and a consensus target price of $30.33.

89bio Trading Down 3.8 %

NASDAQ:ETNB traded down $0.40 during trading hours on Monday, hitting $10.05. The company had a trading volume of 515,955 shares, compared to its average volume of 939,730. 89bio has a 1 year low of $6.88 and a 1 year high of $16.63. The company has a market cap of $988.72 million, a P/E ratio of -3.45 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. The company has a current ratio of 13.92, a quick ratio of 13.92 and a debt-to-equity ratio of 0.04.

Institutional Investors Weigh In On 89bio

Institutional investors and hedge funds have recently modified their holdings of the company. Intech Investment Management LLC acquired a new stake in 89bio during the 3rd quarter worth approximately $160,000. Quest Partners LLC raised its stake in shares of 89bio by 172.1% in the third quarter. Quest Partners LLC now owns 22,074 shares of the company's stock valued at $163,000 after acquiring an additional 13,961 shares in the last quarter. Harbor Capital Advisors Inc. raised its stake in shares of 89bio by 165.3% in the third quarter. Harbor Capital Advisors Inc. now owns 227,930 shares of the company's stock valued at $1,687,000 after acquiring an additional 142,032 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in 89bio by 76.2% in the third quarter. China Universal Asset Management Co. Ltd. now owns 20,370 shares of the company's stock valued at $151,000 after purchasing an additional 8,810 shares during the period. Finally, Gilliland Jeter Wealth Management LLC grew its stake in 89bio by 42.6% during the 3rd quarter. Gilliland Jeter Wealth Management LLC now owns 46,159 shares of the company's stock worth $342,000 after purchasing an additional 13,783 shares in the last quarter.

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.