Cantor Fitzgerald Weighs in on 89bio, Inc.’s FY2023 Earnings (NASDAQ:ETNB)

Posted by on Jun 9th, 2022

89bio, Inc. (NASDAQ:ETNB – Get Rating) – Research analysts at Cantor Fitzgerald issued their FY2023 earnings estimates for shares of 89bio in a note issued to investors on Monday, June 6th. Cantor Fitzgerald analyst K. Kluska anticipates that the company will post earnings of ($2.83) per share for the year.

ETNB has been the topic of a number of other research reports. Raymond James upgraded 89bio from an “outperform” rating to a “strong-buy” rating and decreased their target price for the company from $33.00 to $12.00 in a research report on Thursday, May 12th. HC Wainwright decreased their price objective on 89bio from $46.00 to $29.00 in a report on Thursday, May 12th. SVB Leerink decreased their price target on 89bio from $62.00 to $50.00 and set an “outperform” rating for the company in a report on Friday, March 25th. Oppenheimer decreased their target price on 89bio from $49.00 to $40.00 in a research report on Friday, May 13th. Finally, Piper Sandler cut their target price on 89bio from $54.00 to $19.00 and set an “overweight” rating for the company in a research note on Tuesday, May 17th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $34.88.

ETNB opened at $3.95 on Thursday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 7.36 and a current ratio of 7.36. 89bio has a fifty-two week low of $2.00 and a fifty-two week high of $22.31. The company has a market capitalization of $80.38 million, a P/E ratio of -0.79 and a beta of 2.72. The stock has a fifty day moving average of $2.94 and a 200-day moving average of $6.65.

89bio (NASDAQ:ETNB – Get Rating) last issued its quarterly earnings results on Wednesday, May 11th. The company reported ($1.26) earnings per share for the quarter, topping the consensus estimate of ($1.29) by $0.03.

Large investors have recently bought and sold shares of the company. Citigroup Inc. raised its holdings in shares of 89bio by 172.9% in the fourth quarter. Citigroup Inc. now owns 3,146 shares of the company’s stock worth $41,000 after buying an additional 1,993 shares during the period. Wells Fargo & Company MN acquired a new stake in shares of 89bio in the 4th quarter worth $48,000. Acadian Asset Management LLC acquired a new stake in 89bio during the 1st quarter worth about $34,000. Goldman Sachs Group Inc. purchased a new position in shares of 89bio during the 4th quarter valued at about $134,000. Finally, Penn Mutual Asset Management LLC purchased a new position in shares of 89bio during the 1st quarter valued at about $39,000. 91.06% of the stock is owned by institutional investors and hedge funds.

About 89bio (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.

Read More

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

Want More Great Investing Ideas?

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.