What is Leerink Partnrs' Estimate for 89bio FY2029 Earnings?

89bio, Inc. (NASDAQ:ETNB - Free Report) - Equities research analysts at Leerink Partnrs upped their FY2029 earnings per share (EPS) estimates for 89bio in a note issued to investors on Friday, February 28th. Leerink Partnrs analyst T. Smith now anticipates that the company will earn $3.71 per share for the year, up from their previous estimate of $3.68. The consensus estimate for 89bio's current full-year earnings is ($3.19) per share.

89bio (NASDAQ:ETNB - Get Free Report) last announced its earnings results on Thursday, March 6th. The company reported ($1.02) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.60) by ($0.42).

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

89bio Trading Down 1.0 %

Shares of ETNB opened at $9.23 on Monday. 89bio has a 1-year low of $5.99 and a 1-year high of $16.63. The business's 50-day moving average price is $8.75 and its 200 day moving average price is $8.48. The stock has a market capitalization of $979.54 million, a P/E 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.

Hedge Funds Weigh In On 89bio

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ETNB. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of 89bio by 2.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 51,154 shares of the company's stock valued at $400,000 after purchasing an additional 1,169 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of 89bio by 11.5% in the fourth quarter. Victory Capital Management Inc. now owns 13,969 shares of the company's stock worth $109,000 after acquiring an additional 1,437 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in 89bio by 1.2% during 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 worth $1,043,000 after acquiring an additional 1,624 shares during the period. Sandia Investment Management LP raised its stake in 89bio by 28.5% during the 4th quarter. Sandia Investment Management LP now owns 11,286 shares of the company's stock valued at $88,000 after purchasing an additional 2,500 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its holdings in 89bio by 24.3% in the 4th quarter. New York State Common Retirement Fund now owns 16,367 shares of the company's stock valued at $128,000 after purchasing an additional 3,200 shares during the period.

Insider Activity

In other news, insider Quoc Le-Nguyen sold 10,963 shares of the company's stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $6.49, for a total transaction of $71,149.87. Following the completion of the sale, the insider now owns 271,833 shares in the company, valued at approximately $1,764,196.17. This represents a 3.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Charles Mcwherter acquired 10,000 shares of the business's stock in a transaction that occurred on Thursday, December 5th. The stock was bought at an average cost of $8.00 per share, for a total transaction of $80,000.00. Following the completion of the purchase, the director now directly owns 10,000 shares in the company, valued at $80,000. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 5,734,285 shares of company stock worth $50,152,194 in the last three months. 2.80% of the stock is owned by insiders.

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.

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