Research Analysts Set Expectations for 89bio, Inc.’s FY2023 Earnings (NASDAQ:ETNB)

89bio, Inc. (NASDAQ:ETNBFree Report) – Leerink Partnrs reduced their FY2023 earnings estimates for shares of 89bio in a research report issued to clients and investors on Monday, February 5th. Leerink Partnrs analyst T. Smith now expects that the company will post earnings of ($2.01) per share for the year, down from their previous forecast of ($2.00). The consensus estimate for 89bio’s current full-year earnings is ($2.07) per share. Leerink Partnrs also issued estimates for 89bio’s Q1 2024 earnings at ($0.51) EPS, Q3 2024 earnings at ($0.58) EPS, Q4 2024 earnings at ($0.60) EPS, FY2024 earnings at ($2.28) EPS, FY2025 earnings at ($3.45) EPS, FY2026 earnings at ($3.48) EPS and FY2027 earnings at ($0.02) EPS.

89bio (NASDAQ:ETNBGet Free Report) last posted its earnings results on Wednesday, November 8th. The company reported ($0.45) earnings per share for the quarter, beating the consensus estimate of ($0.53) by $0.08. The firm had revenue of $1.00 million during the quarter, compared to analyst estimates of $0.38 million. The company’s revenue for the quarter was up .0% on a year-over-year basis.

ETNB has been the topic of a number of other reports. Evercore ISI reduced their target price on shares of 89bio from $49.00 to $29.00 in a report on Wednesday, October 11th. UBS Group reduced their target price on shares of 89bio from $36.00 to $25.00 and set a “buy” rating on the stock in a report on Thursday, October 12th. HC Wainwright reduced their target price on shares of 89bio from $35.00 to $32.00 and set a “buy” rating on the stock in a report on Wednesday, December 20th. Oppenheimer lowered shares of 89bio from an “outperform” rating to a “market perform” rating in a report on Tuesday, October 10th. Finally, Royal Bank of Canada lowered shares of 89bio from an “outperform” rating to a “sector perform” rating and reduced their target price for the stock from $24.00 to $15.00 in a report on Friday, January 12th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, 89bio currently has a consensus rating of “Moderate Buy” and an average target price of $31.56.

Get Our Latest Stock Analysis on ETNB

89bio Price Performance

Shares of ETNB stock opened at $8.13 on Wednesday. The firm’s 50 day moving average price is $10.49 and its 200-day moving average price is $12.02. The company has a debt-to-equity ratio of 0.06, a quick ratio of 18.23 and a current ratio of 18.23. 89bio has a one year low of $6.57 and a one year high of $22.93.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ETNB. Wetzel Investment Advisors Inc. purchased a new position in shares of 89bio in the 4th quarter valued at $34,000. Acadian Asset Management LLC purchased a new position in 89bio during the 1st quarter worth $34,000. Dark Forest Capital Management LP purchased a new position in 89bio during the 1st quarter worth $39,000. AJOVista LLC purchased a new position in 89bio during the 4th quarter worth $42,000. Finally, US Bancorp DE grew its position in 89bio by 132.5% during the 2nd quarter. US Bancorp DE now owns 2,202 shares of the company’s stock worth $42,000 after purchasing an additional 1,255 shares during the last quarter.

About 89bio

(Get Free Report)

89bio, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of therapies for the treatment of liver and cardio-metabolic diseases. The company's 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

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

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