HC Wainwright Issues Pessimistic Estimate for 89bio Earnings

89bio, Inc. (NASDAQ:ETNB - Free Report) - Equities researchers at HC Wainwright lowered their FY2024 earnings per share (EPS) estimates for shares of 89bio in a report issued on Monday, November 11th. HC Wainwright analyst E. Arce now expects that the company will post earnings per share of ($3.50) for the year, down from their previous forecast of ($2.06). HC Wainwright has a "Buy" rating and a $29.00 price objective on the stock. The consensus estimate for 89bio's current full-year earnings is ($2.83) per share. HC Wainwright also issued estimates for 89bio's Q4 2024 earnings at ($1.02) EPS, Q1 2025 earnings at ($0.77) EPS, Q2 2025 earnings at ($0.65) EPS, Q3 2025 earnings at ($0.67) EPS, Q4 2025 earnings at ($0.75) EPS, FY2025 earnings at ($2.83) EPS, FY2026 earnings at ($3.39) EPS, FY2027 earnings at ($2.17) EPS and FY2028 earnings at ($0.57) EPS.

A number of other equities analysts have also weighed in on ETNB. Royal Bank of Canada lowered their target price on 89bio from $13.00 to $12.00 and set a "sector perform" rating on the stock in a research note on Tuesday, August 6th. Raymond James dropped their target price on 89bio from $53.00 to $49.00 and set a "strong-buy" rating for the company in a report on Friday, November 8th. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $29.00 price target on shares of 89bio in a research note on Friday, September 20th. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $30.33.

89bio Stock Performance

Shares of ETNB stock traded up $0.01 during midday trading on Thursday, hitting $8.93. 463,829 shares of the company were exchanged, compared to its average volume of 946,327. The firm has a market capitalization of $947.74 million, a P/E ratio of -3.06 and a beta of 1.07. The company has a debt-to-equity ratio of 0.09, a quick ratio of 11.66 and a current ratio of 11.66. 89bio has a 52 week low of $7.00 and a 52 week high of $16.63. The firm's 50 day moving average price is $8.20 and its two-hundred day moving average price is $8.42.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Janus Henderson Group PLC lifted its holdings in shares of 89bio by 41.4% during the 1st quarter. Janus Henderson Group PLC now owns 12,603,382 shares of the company's stock worth $146,646,000 after acquiring an additional 3,688,241 shares during the period. RA Capital Management L.P. boosted its holdings in shares of 89bio by 11.8% in the 1st quarter. RA Capital Management L.P. now owns 12,766,948 shares of the company's stock valued at $148,607,000 after purchasing an additional 1,350,000 shares in the last quarter. Westfield Capital Management Co. LP increased its stake in shares of 89bio by 29.6% in the 3rd quarter. Westfield Capital Management Co. LP now owns 3,006,038 shares of the company's stock valued at $22,245,000 after purchasing an additional 686,673 shares during the last quarter. Candriam S.C.A. raised its holdings in shares of 89bio by 173.6% during the 2nd quarter. Candriam S.C.A. now owns 848,079 shares of the company's stock worth $6,793,000 after buying an additional 538,079 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of 89bio by 9.6% during the 1st quarter. Vanguard Group Inc. now owns 4,722,971 shares of the company's stock worth $54,975,000 after buying an additional 415,386 shares during 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.