FY2029 Earnings Forecast for 89bio Issued By Leerink Partnrs

89bio, Inc. (NASDAQ:ETNB) – Leerink Partnrs issued their FY2029 earnings estimates for 89bio in a research note issued to investors on Sunday, February 2nd. Leerink Partnrs analyst T. Smith anticipates that the company will earn $3.68 per share for the year. The consensus estimate for 89bio’s current full-year earnings is ($3.21) per share.

ETNB has been the subject of a number of other research reports. UBS Group raised their target price on shares of 89bio from $25.00 to $38.00 and gave the company a “buy” rating in a research report on Friday. 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. HC Wainwright reaffirmed a “buy” rating and issued a $29.00 target price on shares of 89bio in a research report on Tuesday, January 21st. Raymond James raised shares of 89bio to a “strong-buy” rating in a research report on Thursday, December 12th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of 89bio in a research report on Saturday. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $31.43.

89bio Stock Down 3.2 %

Shares of NASDAQ:ETNB opened at $9.29 on Tuesday. 89bio has a 12 month low of $5.99 and a 12 month high of $16.63. The company’s fifty day simple moving average is $7.84 and its 200 day simple moving average is $8.19. The company has a debt-to-equity ratio of 0.09, a quick ratio of 11.66 and a current ratio of 11.66.

Insiders Place Their Bets

In related news, Director Charles Mcwherter purchased 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The shares were bought at an average cost of $8.00 per share, with a total value of $80,000.00. Following the acquisition, the director now owns 10,000 shares of the company’s stock, valued at $80,000. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Rohan Palekar purchased 5,000 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The shares were bought at an average cost of $7.89 per share, for a total transaction of $39,450.00. Following the completion of the acquisition, the chief executive officer now directly owns 471,236 shares in the company, valued at $3,718,052.04. The trade was a 1.07 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired 5,744,285 shares of company stock worth $50,235,694 in the last quarter. 2.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On 89bio

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Squarepoint Ops LLC bought a new stake in 89bio during the 2nd quarter worth approximately $327,000. The Manufacturers Life Insurance Company boosted its stake in shares of 89bio by 12.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 31,355 shares of the company’s stock valued at $251,000 after purchasing an additional 3,557 shares during the last quarter. Algert Global LLC boosted its stake in shares of 89bio by 30.8% in the 2nd quarter. Algert Global LLC now owns 30,587 shares of the company’s stock valued at $245,000 after purchasing an additional 7,203 shares during the last quarter. Northwestern Mutual Wealth Management Co. bought a new stake in shares of 89bio in the 2nd quarter valued at $66,000. Finally, SG Americas Securities LLC boosted its stake in shares of 89bio by 21.4% in the 3rd quarter. SG Americas Securities LLC now owns 30,713 shares of the company’s stock valued at $227,000 after purchasing an additional 5,421 shares during the last quarter.

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.