SVB Leerink Equities Analysts Boost Earnings Estimates for 89bio, Inc. (NASDAQ:ETNB)

89bio, Inc. (NASDAQ:ETNBGet Rating) – Analysts at SVB Leerink increased their Q2 2022 earnings per share (EPS) estimates for shares of 89bio in a research note issued to investors on Wednesday, May 11th. SVB Leerink analyst T. Smith now expects that the company will earn ($1.14) per share for the quarter, up from their previous forecast of ($1.18). SVB Leerink has a “Outperform” rating and a $50.00 price objective on the stock. SVB Leerink also issued estimates for 89bio’s Q3 2022 earnings at ($1.03) EPS, FY2022 earnings at ($4.48) EPS, FY2023 earnings at ($5.19) EPS, FY2024 earnings at ($6.71) EPS and FY2025 earnings at ($6.29) EPS.

89bio (NASDAQ:ETNBGet Rating) last posted its quarterly earnings results on Wednesday, May 11th. The company reported ($1.26) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.29) by $0.03.

Several other equities analysts have also recently issued reports on the company. Zacks Investment Research raised 89bio from a “sell” rating to a “hold” rating in a report on Monday, January 17th. Oppenheimer cut their price target on 89bio from $49.00 to $40.00 in a report on Friday. HC Wainwright lowered their price objective on 89bio from $46.00 to $29.00 in a research report on Thursday. Raymond James raised 89bio from an “outperform” rating to a “strong-buy” rating and decreased their target price for the stock from $33.00 to $12.00 in a research report on Thursday. Finally, Cantor Fitzgerald cut their price target on 89bio from $41.00 to $27.00 in a research note on Thursday. One investment analyst has 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. According to data from MarketBeat.com, 89bio presently has a consensus rating of “Buy” and a consensus price target of $37.14.

Shares of ETNB stock opened at $2.64 on Monday. The business’s 50 day moving average is $3.20 and its two-hundred day moving average is $8.35. 89bio has a twelve month low of $2.00 and a twelve month high of $23.07. The company has a market capitalization of $53.73 million, a P/E ratio of -0.53 and a beta of 2.82. The company has a current ratio of 8.29, a quick ratio of 8.29 and a debt-to-equity ratio of 0.13.

Hedge funds have recently modified their holdings of the stock. Franklin Resources Inc. grew its holdings in 89bio by 5.8% in the 3rd quarter. Franklin Resources Inc. now owns 806,039 shares of the company’s stock worth $15,791,000 after buying an additional 44,300 shares in the last quarter. CSS LLC IL increased its position in 89bio by 21.8% during the third quarter. CSS LLC IL now owns 27,945 shares of the company’s stock worth $547,000 after buying an additional 5,000 shares during the last quarter. Geode Capital Management LLC increased its position in 89bio by 13.4% during the third quarter. Geode Capital Management LLC now owns 178,325 shares of the company’s stock worth $3,493,000 after buying an additional 21,057 shares during the last quarter. Wellington Management Group LLP grew its position in shares of 89bio by 40.1% in the third quarter. Wellington Management Group LLP now owns 1,695,752 shares of the company’s stock valued at $33,220,000 after purchasing an additional 485,431 shares during the last quarter. Finally, Altium Capital Management LP grew its position in 89bio by 477.6% during the fourth quarter. Altium Capital Management LP now owns 148,000 shares of the company’s stock worth $1,934,000 after buying an additional 122,376 shares in the last quarter. 91.06% of the stock is owned by institutional investors and hedge funds.

89bio Company Profile (Get Rating)

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.

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Earnings History and Estimates for 89bio (NASDAQ:ETNB)

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