FY2029 Earnings Estimate for 89bio Issued By Leerink Partnrs

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

A number of other analysts have also recently commented on the stock. UBS Group upped their price target on shares of 89bio from $25.00 to $38.00 and gave the company a "buy" rating in a research report on Friday, January 31st. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $29.00 target price on shares of 89bio in a research note on Thursday, January 2nd. Raymond James upgraded 89bio to a "strong-buy" rating in a report on Thursday, December 12th. Wolfe Research initiated coverage on 89bio in a report on Tuesday. They set an "outperform" rating on the stock. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of 89bio in a research note on Saturday, February 1st. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, 89bio has an average rating of "Moderate Buy" and a consensus price target of $31.43.

89bio Trading Down 0.2 %

Shares of ETNB traded down $0.02 during trading hours on Tuesday, hitting $11.41. 1,402,271 shares of the stock were exchanged, compared to its average volume of 3,248,995. 89bio has a fifty-two week low of $5.99 and a fifty-two week high of $16.63. The business has a 50-day moving average of $7.98 and a 200-day moving average of $8.26. The firm has a market capitalization of $1.21 billion, a P/E ratio of -3.92 and a beta of 1.17. The company has a debt-to-equity ratio of 0.09, a current ratio of 11.66 and a quick ratio of 11.66.

Insider Buying and Selling at 89bio

In related news, Director Ra Capital Management, L.P. purchased 5,714,285 shares of the stock in a transaction that occurred on Thursday, January 30th. The stock was acquired at an average cost of $8.75 per share, with a total value of $49,999,993.75. Following the transaction, the director now owns 19,554,319 shares of the company's stock, valued at $171,100,291.25. This represents a 41.29 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Quoc Le-Nguyen sold 10,963 shares of 89bio stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $6.49, for a total transaction of $71,149.87. Following the transaction, the insider now directly owns 271,833 shares in the company, valued at $1,764,196.17. This represents a 3.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have acquired 5,744,285 shares of company stock valued at $50,235,694. Corporate insiders own 2.80% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Janus Henderson Group PLC lifted its position in shares of 89bio by 14.2% during the 3rd quarter. Janus Henderson Group PLC now owns 15,158,218 shares of the company's stock worth $112,140,000 after buying an additional 1,882,108 shares in the last quarter. Erste Asset Management GmbH purchased a new stake in shares of 89bio during the third quarter valued at approximately $5,631,000. Westfield Capital Management Co. LP lifted its holdings in 89bio by 29.6% during the third quarter. Westfield Capital Management Co. LP now owns 3,006,038 shares of the company's stock worth $22,245,000 after acquiring an additional 686,673 shares during the period. Walleye Capital LLC boosted its position in 89bio by 1,232.2% in the third quarter. Walleye Capital LLC now owns 435,298 shares of the company's stock worth $3,221,000 after purchasing an additional 402,624 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in 89bio in the 4th quarter valued at $2,951,000.

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.