What is HC Wainwright’s Forecast for 89bio FY2024 Earnings?

89bio, Inc. (NASDAQ:ETNB) – Investment analysts at HC Wainwright reduced their FY2024 earnings per share (EPS) estimates for 89bio in a note issued to investors on Monday, November 11th. HC Wainwright analyst E. Arce now forecasts that the company will earn ($3.50) per share for the year, down from their previous forecast of ($2.06). HC Wainwright currently has a “Buy” rating and a $29.00 target price on the stock. The consensus estimate for 89bio’s current full-year earnings is ($2.83) per share. HC Wainwright also issued estimates for 89bio’s Q4 2024 earnings at ($1.02) EPS, Q1 2025 earnings at ($0.77) EPS, Q2 2025 earnings at ($0.65) EPS, Q3 2025 earnings at ($0.67) EPS, Q4 2025 earnings at ($0.75) EPS, FY2025 earnings at ($2.83) EPS, FY2026 earnings at ($3.39) EPS, FY2027 earnings at ($2.17) EPS and FY2028 earnings at ($0.57) EPS.

A number of other equities analysts also recently issued reports on ETNB. Raymond James cut their price objective on shares of 89bio from $53.00 to $49.00 and set a “strong-buy” rating on the stock in a report on Friday, November 8th. Cantor Fitzgerald reissued an “overweight” rating and set a $29.00 price target on shares of 89bio in a research report on Friday, September 20th. Finally, Royal Bank of Canada reduced their price objective on shares of 89bio from $13.00 to $12.00 and set a “sector perform” rating for the company in a research report on Tuesday, August 6th. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, 89bio has an average rating of “Moderate Buy” and a consensus price target of $30.33.

89bio Trading Down 1.9 %

Shares of 89bio stock opened at $8.75 on Thursday. The company has a market capitalization of $928.64 million, a P/E ratio of -3.06 and a beta of 1.07. The stock has a fifty day simple moving average of $8.20 and a 200 day simple moving average of $8.42. 89bio has a 12-month low of $7.00 and a 12-month high of $16.63. The company has a current ratio of 11.66, a quick ratio of 11.66 and a debt-to-equity ratio of 0.09.

Institutional Trading of 89bio

Several hedge funds have recently made changes to their positions in ETNB. Quest Partners LLC increased its holdings in 89bio by 226.2% in the 2nd quarter. Quest Partners LLC now owns 8,113 shares of the company’s stock worth $65,000 after acquiring an additional 5,626 shares during the last quarter. Northwestern Mutual Wealth Management Co. bought a new position in 89bio during the second quarter worth about $66,000. Ameritas Investment Partners Inc. increased its stake in shares of 89bio by 28.4% in the first quarter. Ameritas Investment Partners Inc. now owns 7,886 shares of the company’s stock worth $92,000 after purchasing an additional 1,744 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its position in shares of 89bio by 76.2% in the third quarter. China Universal Asset Management Co. Ltd. now owns 20,370 shares of the company’s stock valued at $151,000 after purchasing an additional 8,810 shares during the period. Finally, Intech Investment Management LLC bought a new stake in shares of 89bio in the third quarter valued at approximately $160,000.

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.