Cantor Fitzgerald Forecasts 89bio FY2025 Earnings

89bio, Inc. (NASDAQ:ETNB - Free Report) - Analysts at Cantor Fitzgerald issued their FY2025 EPS estimates for 89bio in a research report issued on Wednesday, April 30th. Cantor Fitzgerald analyst S. Seedhouse expects 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.

89bio (NASDAQ:ETNB - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported ($0.49) earnings per share for the quarter, beating the consensus estimate of ($0.50) by $0.01. During the same period last year, the company earned ($0.54) earnings per share.

A number of other research firms have also issued reports on ETNB. Weiss Ratings reiterated a "sell (d-)" rating on shares of 89bio in a research note on Thursday, April 24th. HC Wainwright restated a "buy" rating and issued a $21.00 target price (down previously from $29.00) on shares of 89bio in a research note on Friday, February 28th. Wolfe Research began coverage on 89bio in a research report on Tuesday, February 4th. They set an "outperform" rating for the company. The Goldman Sachs Group assumed coverage on shares of 89bio in a research note on Friday, March 14th. They set a "neutral" rating and a $11.00 price objective on the stock. Finally, UBS Group raised their price objective 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. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $27.25.

89bio Trading Down 1.1 %

Shares of ETNB traded down $0.09 during trading hours on Friday, hitting $7.66. The stock had a trading volume of 501,069 shares, compared to its average volume of 1,348,115. The company's fifty day simple moving average is $7.33 and its 200 day simple moving average is $8.17. The firm has a market cap of $1.12 billion, a P/E ratio of -2.65 and a beta of 1.23. 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 12-month low of $4.16 and a 12-month high of $11.84.

Insider Buying and Selling

In other 89bio news, insider Quoc Le-Nguyen sold 15,329 shares of the company's stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $5.95, for a total value of $91,207.55. Following the completion of the transaction, the insider now owns 328,323 shares of the company's stock, valued at $1,953,521.85. This represents a 4.46 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.80% of the stock is owned by insiders.

Institutional Trading of 89bio

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Barclays PLC raised its position in 89bio by 228.9% in the 3rd quarter. Barclays PLC now owns 214,768 shares of the company's stock worth $1,590,000 after purchasing an additional 149,479 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of 89bio by 77.4% in the third quarter. JPMorgan Chase & Co. now owns 99,467 shares of the company's stock valued at $736,000 after buying an additional 43,384 shares during the last quarter. Harbor Capital Advisors Inc. raised its holdings in 89bio by 10.5% in the 4th quarter. Harbor Capital Advisors Inc. now owns 251,898 shares of the company's stock valued at $1,970,000 after acquiring an additional 23,968 shares during the period. Assenagon Asset Management S.A. acquired a new position in shares of 89bio during the 4th quarter worth approximately $1,897,000. Finally, Hennion & Walsh Asset Management Inc. bought a new stake in shares of 89bio during the 4th quarter worth approximately $739,000.

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.