89bio, Inc. (NASDAQ:ETNB – Free Report) – Analysts at Cantor Fitzgerald dropped their FY2024 earnings estimates for 89bio in a report released on Monday, November 11th. Cantor Fitzgerald analyst K. Kluska now anticipates that the company will earn ($2.98) per share for the year, down from their prior forecast of ($2.78). Cantor Fitzgerald currently has a “Overweight” 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.
A number of other equities research analysts have also recently commented on ETNB. Royal Bank of Canada dropped their price objective on shares of 89bio from $13.00 to $12.00 and set a “sector perform” rating on the stock in a research note on Tuesday, August 6th. HC Wainwright restated a “buy” rating and issued a $29.00 price target on shares of 89bio in a research note on Monday. Finally, Raymond James lowered their price target on 89bio from $53.00 to $49.00 and set a “strong-buy” rating on the stock in a research report on Friday, November 8th. Two 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’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $30.33.
89bio Price Performance
Shares of ETNB opened at $8.92 on Thursday. The company has a market capitalization of $946.15 million, a P/E ratio of -3.06 and a beta of 1.07. The business’s 50-day moving average is $8.19 and its two-hundred day moving average is $8.42. The company has a debt-to-equity ratio of 0.09, a quick ratio of 11.66 and a current ratio of 11.66. 89bio has a fifty-two week low of $7.00 and a fifty-two week high of $16.63.
Institutional Trading of 89bio
A number of hedge funds have recently bought and sold shares of ETNB. Janus Henderson Group PLC raised its stake in 89bio by 41.4% during the first quarter. Janus Henderson Group PLC now owns 12,603,382 shares of the company’s stock worth $146,646,000 after purchasing an additional 3,688,241 shares during the period. RA Capital Management L.P. lifted its holdings in 89bio by 11.8% during the 1st quarter. RA Capital Management L.P. now owns 12,766,948 shares of the company’s stock worth $148,607,000 after buying an additional 1,350,000 shares in the last quarter. Westfield Capital Management Co. LP grew its stake in 89bio by 29.6% during the 3rd quarter. Westfield Capital Management Co. LP now owns 3,006,038 shares of the company’s stock worth $22,245,000 after purchasing an additional 686,673 shares in the last quarter. Candriam S.C.A. grew its position in shares of 89bio by 173.6% during the second quarter. Candriam S.C.A. now owns 848,079 shares of the company’s stock worth $6,793,000 after buying an additional 538,079 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of 89bio by 9.6% in the 1st quarter. Vanguard Group Inc. now owns 4,722,971 shares of the company’s stock valued at $54,975,000 after purchasing an additional 415,386 shares during the last quarter.
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.
See Also
- Five stocks we like better than 89bio
- How to Use the MarketBeat Excel Dividend Calculator
- Shopify Stock Rally Continues: Why the Growth Story Isn’t Over
- What Investors Must Know About Over-the-Counter (OTC) Stocks
- Tariff Troubles: 3 Stocks Planning Higher Prices
- Insider Trading – What You Need to Know
- Mercer Near Rock Bottom: Is This High-Yield Play Set to Soar?
Receive News & Ratings for 89bio Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for 89bio and related companies with MarketBeat.com's FREE daily email newsletter.