Equities Analysts Set Expectations for 89bio, Inc.’s Q3 2024 Earnings (NASDAQ:ETNB)

89bio, Inc. (NASDAQ:ETNB) – Investment analysts at Leerink Partnrs increased their Q3 2024 earnings per share (EPS) estimates for 89bio in a note issued to investors on Tuesday, August 6th. Leerink Partnrs analyst T. Smith now expects that the company will post earnings per share of ($0.53) for the quarter, up from their prior estimate of ($0.62). The consensus estimate for 89bio’s current full-year earnings is ($2.42) per share. Leerink Partnrs also issued estimates for 89bio’s Q4 2024 earnings at ($0.57) EPS, FY2024 earnings at ($2.12) EPS, FY2025 earnings at ($2.47) EPS, FY2026 earnings at ($2.66) EPS, FY2027 earnings at ($0.22) EPS and FY2028 earnings at $4.04 EPS.

Other equities analysts have also issued reports about the company. Royal Bank of Canada cut their price objective on 89bio from $13.00 to $12.00 and set a “sector perform” rating on the stock in a research note on Tuesday. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $29.00 price objective on shares of 89bio in a research note on Monday, July 1st. Evercore ISI cut their price objective on 89bio from $37.00 to $33.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 15th. HC Wainwright reaffirmed a “buy” rating and issued a $29.00 price objective on shares of 89bio in a research note on Tuesday. Finally, Bank of America reaffirmed a “buy” rating and issued a $30.00 price objective on shares of 89bio in a research note on Monday, April 22nd. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.14.

89bio Trading Down 2.4 %

Shares of ETNB stock traded down $0.19 during mid-day trading on Thursday, reaching $7.80. 394,878 shares of the stock traded hands, compared to its average volume of 1,094,478. The stock’s fifty day simple moving average is $8.41 and its two-hundred day simple moving average is $9.53. The company has a quick ratio of 15.03, a current ratio of 15.03 and a debt-to-equity ratio of 0.05. The company has a market cap of $767.40 million, a price-to-earnings ratio of -3.88 and a beta of 1.10. 89bio has a 1-year low of $6.57 and a 1-year high of $18.30.

89bio (NASDAQ:ETNB) last announced its quarterly earnings results on Monday, August 5th. The company reported ($0.48) EPS for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.08. During the same period last year, the business earned ($0.52) EPS.

Institutional Investors Weigh In On 89bio

A number of hedge funds have recently added to or reduced their stakes in ETNB. RTW Investments LP bought a new stake in 89bio in the fourth quarter worth approximately $62,317,000. Janus Henderson Group PLC increased its holdings in shares of 89bio by 41.4% during the first quarter. Janus Henderson Group PLC now owns 12,603,382 shares of the company’s stock valued at $146,646,000 after acquiring an additional 3,688,241 shares in the last quarter. BVF Inc. IL increased its holdings in shares of 89bio by 119.2% during the fourth quarter. BVF Inc. IL now owns 4,047,354 shares of the company’s stock valued at $45,209,000 after acquiring an additional 2,201,200 shares in the last quarter. Frazier Life Sciences Management L.P. bought a new stake in shares of 89bio during the fourth quarter valued at approximately $22,340,000. Finally, RA Capital Management L.P. boosted its position in shares of 89bio by 11.8% during the first quarter. RA Capital Management L.P. now owns 12,766,948 shares of the company’s stock valued at $148,607,000 after buying an additional 1,350,000 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.