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

89bio, Inc. (NASDAQ:ETNB) – Research analysts at HC Wainwright cut their FY2024 earnings estimates for 89bio in a note issued to investors on Monday, November 11th. HC Wainwright analyst E. Arce now forecasts that the company will post earnings of ($3.50) per share for the year, down from their prior estimate of ($2.06). HC Wainwright currently has a “Buy” rating and a $29.00 price objective 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.

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

89bio Trading Down 1.5 %

Shares of ETNB opened at $8.92 on Thursday. The stock’s fifty day simple moving average is $8.19 and its 200-day simple moving average is $8.42. The firm has a market capitalization of $946.15 million, a PE ratio of -3.14 and a beta of 1.07. 89bio has a 12-month low of $7.00 and a 12-month high of $16.63. The company has a quick ratio of 11.66, a current ratio of 11.66 and a debt-to-equity ratio of 0.09.

Hedge Funds Weigh In On 89bio

Large investors have recently bought and sold shares of the company. Quest Partners LLC boosted its holdings in 89bio by 226.2% during the second quarter. Quest Partners LLC now owns 8,113 shares of the company’s stock worth $65,000 after purchasing an additional 5,626 shares during the last quarter. Northwestern Mutual Wealth Management Co. acquired a new position in shares of 89bio during the 2nd quarter worth about $66,000. Ameritas Investment Partners Inc. grew its holdings in shares of 89bio by 28.4% in the 1st quarter. Ameritas Investment Partners Inc. now owns 7,886 shares of the company’s stock valued at $92,000 after acquiring an additional 1,744 shares in the last quarter. China Universal Asset Management Co. Ltd. increased 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 acquiring an additional 8,810 shares during the last quarter. Finally, Intech Investment Management LLC bought a new stake in 89bio during the third quarter worth about $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.