Brokers Issue Forecasts for 89bio FY2025 Earnings

89bio, Inc. (NASDAQ:ETNB - Free Report) - Investment analysts at Cantor Fitzgerald issued their FY2025 earnings per share (EPS) estimates for 89bio in a research note issued to investors on Wednesday, April 30th. Cantor Fitzgerald analyst S. Seedhouse forecasts that the company will post earnings of ($3.35) per share for the year. Cantor Fitzgerald currently has a "Strong-Buy" rating on the stock. The consensus estimate for 89bio's current full-year earnings is ($3.19) per share.

A number of other equities analysts also recently commented on the stock. Weiss Ratings restated a "sell (d-)" rating on shares of 89bio in a research note on Thursday, April 24th. HC Wainwright restated a "buy" rating and set a $21.00 price objective (down from $29.00) on shares of 89bio in a report on Friday, February 28th. UBS Group upped their target price on 89bio from $25.00 to $38.00 and gave the stock a "buy" rating in a report on Friday, January 31st. Wolfe Research began coverage on 89bio in a research report on Tuesday, February 4th. They set an "outperform" rating on the stock. Finally, Citigroup initiated coverage on 89bio in a report on Thursday, March 13th. They issued a "buy" rating and a $25.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $27.25.

89bio Trading Down 10.0 %

Shares of NASDAQ ETNB traded down $0.86 during mid-day trading on Friday, reaching $7.75. The company had a trading volume of 2,727,933 shares, compared to its average volume of 1,348,358. The stock has a market cap of $1.13 billion, a price-to-earnings ratio of -2.66 and a beta of 1.23. 89bio has a 52 week low of $4.16 and a 52 week high of $11.84. The business's 50-day moving average is $7.37 and its 200-day moving average is $8.17. The company has a current ratio of 11.66, a quick ratio of 11.66 and a debt-to-equity ratio of 0.09.

89bio (NASDAQ:ETNB - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported ($0.49) earnings per share for the quarter, topping analysts' consensus estimates of ($0.50) by $0.01. During the same period in the previous year, the business posted ($0.54) earnings per share.

Institutional Investors Weigh In On 89bio

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ETNB. CWM LLC increased its holdings in shares of 89bio by 9,265.1% during the first quarter. CWM LLC now owns 5,900 shares of the company's stock valued at $43,000 after acquiring an additional 5,837 shares in the last quarter. Federated Hermes Inc. increased its stake in 89bio by 206.9% during the 4th quarter. Federated Hermes Inc. now owns 6,283 shares of the company's stock valued at $49,000 after purchasing an additional 4,236 shares in the last quarter. Quarry LP purchased a new position in shares of 89bio in the fourth quarter worth $55,000. GAMMA Investing LLC lifted its stake in shares of 89bio by 4,898.7% during the first quarter. GAMMA Investing LLC now owns 7,648 shares of the company's stock worth $56,000 after buying an additional 7,495 shares during the period. Finally, Kingswood Wealth Advisors LLC purchased a new stake in shares of 89bio during the fourth quarter valued at $86,000.

Insider Buying and Selling at 89bio

In other news, insider Quoc Le-Nguyen sold 15,329 shares of the stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $5.95, for a total transaction of $91,207.55. Following the completion of the sale, the insider now owns 328,323 shares in the company, valued at approximately $1,953,521.85. This represents a 4.46 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.80% of the stock is owned by 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.