FY2029 Earnings Forecast for 89bio Issued By Leerink Partnrs

89bio, Inc. (NASDAQ:ETNB) – Leerink Partnrs issued their FY2029 earnings estimates for shares of 89bio in a research note issued on Sunday, February 2nd. Leerink Partnrs analyst T. Smith anticipates that the company will earn $3.68 per share for the year. The consensus estimate for 89bio’s current full-year earnings is ($3.21) per share.

Other analysts also recently issued research reports about the stock. Raymond James raised shares of 89bio to a “strong-buy” rating in a research report on Thursday, December 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of 89bio in a research report on Saturday. Cantor Fitzgerald reiterated an “overweight” rating and set a $29.00 price objective on shares of 89bio in a research note on Thursday, January 2nd. UBS Group boosted their target price on shares of 89bio from $25.00 to $38.00 and gave the stock a “buy” rating in a research report on Friday. Finally, HC Wainwright reaffirmed a “buy” rating and set a $29.00 price target on shares of 89bio in a research report on Tuesday, January 21st. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, 89bio currently has an average rating of “Moderate Buy” and a consensus price target of $31.43.

89bio Stock Performance

NASDAQ ETNB opened at $9.29 on Tuesday. 89bio has a 12 month low of $5.99 and a 12 month high of $16.63. The company has a 50-day moving average of $7.84 and a 200-day moving average of $8.19. The company has a quick ratio of 11.66, a current ratio of 11.66 and a debt-to-equity ratio of 0.09.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of 89bio by 1.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 140,998 shares of the company’s stock valued at $1,043,000 after purchasing an additional 1,624 shares during the last quarter. New York State Common Retirement Fund grew its stake in shares of 89bio by 24.3% during the fourth quarter. New York State Common Retirement Fund now owns 16,367 shares of the company’s stock valued at $128,000 after purchasing an additional 3,200 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of 89bio by 12.8% during the second quarter. The Manufacturers Life Insurance Company now owns 31,355 shares of the company’s stock valued at $251,000 after purchasing an additional 3,557 shares during the last quarter. Rhumbline Advisers lifted its holdings in 89bio by 3.3% in the fourth quarter. Rhumbline Advisers now owns 129,980 shares of the company’s stock valued at $1,016,000 after buying an additional 4,125 shares during the period. Finally, China Universal Asset Management Co. Ltd. lifted its holdings in 89bio by 22.4% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 24,932 shares of the company’s stock valued at $195,000 after buying an additional 4,562 shares during the period.

Insider Buying and Selling at 89bio

In other news, insider Quoc Le-Nguyen sold 10,963 shares of 89bio stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $6.49, for a total transaction of $71,149.87. Following the sale, the insider now owns 271,833 shares of the company’s stock, valued at approximately $1,764,196.17. The trade was a 3.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Ra Capital Management, L.P. bought 5,714,285 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The shares were purchased at an average cost of $8.75 per share, for a total transaction of $49,999,993.75. Following the acquisition, the director now owns 19,554,319 shares of the company’s stock, valued at $171,100,291.25. This represents a 41.29 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 5,744,285 shares of company stock worth $50,235,694 over the last ninety days. Company insiders own 2.80% of the company’s stock.

About 89bio

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.