89bio, Inc. (NASDAQ:ETNB – Get Rating) – Research analysts at SVB Leerink issued their Q1 2023 earnings per share (EPS) estimates for shares of 89bio in a report released on Sunday, March 12th. SVB Leerink analyst T. Smith expects that the company will post earnings of ($0.54) per share for the quarter. The consensus estimate for 89bio’s current full-year earnings is ($2.59) per share.
Other equities analysts have also recently issued research reports about the company. HC Wainwright reiterated a “buy” rating and set a $27.00 target price on shares of 89bio in a research report on Tuesday, February 7th. Cantor Fitzgerald restated an “overweight” rating and issued a $34.00 price target on shares of 89bio in a report on Monday, March 6th. Finally, Oppenheimer upped their price target on 89bio from $12.00 to $18.00 and gave the stock an “outperform” rating in a report on Tuesday, February 21st. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $25.63.
89bio Stock Performance
Insider Activity at 89bio
In related news, CFO Ryan Martins sold 2,540 shares of the company’s stock in a transaction that occurred on Tuesday, February 21st. The stock was sold at an average price of $13.89, for a total value of $35,280.60. Following the sale, the chief financial officer now owns 58,578 shares of the company’s stock, valued at approximately $813,648.42. The transaction was disclosed in a filing with the SEC, which is available through this link. In the last 90 days, insiders have sold 13,559 shares of company stock valued at $177,844. 11.80% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On 89bio
Institutional investors and hedge funds have recently bought and sold shares of the stock. Dorsey Wright & Associates purchased a new stake in shares of 89bio in the fourth quarter valued at $37,000. Quantbot Technologies LP purchased a new stake in 89bio in the 3rd quarter valued at about $34,000. Acadian Asset Management LLC acquired a new position in shares of 89bio during the 1st quarter valued at about $34,000. Gladstone Institutional Advisory LLC purchased a new position in shares of 89bio during the 4th quarter worth about $127,000. Finally, Fox Run Management L.L.C. acquired a new position in shares of 89bio in the 4th quarter valued at $128,000. Hedge funds and other institutional investors own 87.78% of the company’s stock.
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.
- Get a free copy of the StockNews.com research report on 89bio (ETNB)
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