89bio, Inc. Forecasted to Post Q2 2024 Earnings of ($0.59) Per Share (NASDAQ:ETNB)

89bio, Inc. (NASDAQ:ETNBFree Report) – Analysts at Leerink Partnrs issued their Q2 2024 EPS estimates for shares of 89bio in a report issued on Monday, February 5th. Leerink Partnrs analyst T. Smith anticipates that the company will post earnings of ($0.59) per share for the quarter. The consensus estimate for 89bio’s current full-year earnings is ($2.07) per share. Leerink Partnrs also issued estimates for 89bio’s FY2028 earnings at $5.19 EPS.

89bio (NASDAQ:ETNBGet Free Report) last posted its earnings results on Wednesday, November 8th. The company reported ($0.45) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.53) by $0.08. The firm had revenue of $1.00 million during the quarter, compared to analyst estimates of $0.38 million. The company’s quarterly revenue was up .0% on a year-over-year basis.

A number of other research firms have also recently weighed in on ETNB. Evercore ISI reduced their price objective on shares of 89bio from $49.00 to $29.00 in a research report on Wednesday, October 11th. Royal Bank of Canada cut shares of 89bio from an “outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $24.00 to $15.00 in a research report on Friday, January 12th. HC Wainwright reduced their price objective on shares of 89bio from $35.00 to $32.00 and set a “buy” rating for the company in a research report on Wednesday, December 20th. Finally, UBS Group reduced their price objective on shares of 89bio from $36.00 to $25.00 and set a “buy” rating for the company in a research report on Thursday, October 12th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, 89bio presently has an average rating of “Moderate Buy” and a consensus target price of $31.56.

Read Our Latest Stock Report on ETNB

89bio Stock Performance

NASDAQ:ETNB opened at $8.34 on Tuesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 18.23 and a current ratio of 18.23. The company has a fifty day moving average of $10.50 and a two-hundred day moving average of $11.99. The stock has a market capitalization of $777.37 million, a PE ratio of -4.19 and a beta of 1.00. 89bio has a fifty-two week low of $6.57 and a fifty-two week high of $22.93.

Institutional Trading of 89bio

Institutional investors have recently made changes to their positions in the company. BlackRock Inc. raised its position in 89bio by 272.1% in the second quarter. BlackRock Inc. now owns 4,650,183 shares of the company’s stock valued at $88,121,000 after purchasing an additional 3,400,611 shares during the period. State Street Corp raised its position in 89bio by 2,823.9% in the first quarter. State Street Corp now owns 3,070,374 shares of the company’s stock valued at $46,762,000 after purchasing an additional 2,965,364 shares during the period. Braidwell LP purchased a new stake in 89bio in the third quarter valued at approximately $24,556,000. Marshall Wace LLP raised its position in 89bio by 231.0% in the fourth quarter. Marshall Wace LLP now owns 1,487,311 shares of the company’s stock valued at $18,933,000 after purchasing an additional 1,037,931 shares during the period. Finally, Point72 Asset Management L.P. acquired a new position in shares of 89bio in the fourth quarter worth $13,043,000.

About 89bio

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89bio, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of therapies for the treatment of liver and cardio-metabolic diseases. The company's 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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Earnings History and Estimates for 89bio (NASDAQ:ETNB)

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