Cantor Fitzgerald Forecasts Stronger Earnings for 89bio

89bio, Inc. (NASDAQ:ETNB) – Equities researchers at Cantor Fitzgerald upped their FY2025 earnings estimates for shares of 89bio in a research note issued on Tuesday, March 4th. Cantor Fitzgerald analyst K. Kluska now expects that the company will post earnings of ($1.88) per share for the year, up from their previous estimate of ($2.44). Cantor Fitzgerald has a “Overweight” rating and a $29.00 price objective on the stock. The consensus estimate for 89bio’s current full-year earnings is ($3.19) per share.

A number of other equities analysts also recently issued reports on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of 89bio in a research report on Wednesday, February 19th. Wolfe Research assumed coverage on 89bio in a research report on Tuesday, February 4th. They set an “outperform” rating on the stock. HC Wainwright reiterated a “buy” rating and issued a $21.00 target price (down previously from $29.00) on shares of 89bio in a research report on Friday, February 28th. Raymond James upgraded shares of 89bio to a “strong-buy” rating in a research report on Thursday, December 12th. Finally, UBS Group raised their price target on shares of 89bio from $25.00 to $38.00 and gave the company a “buy” rating in a research note on Friday, January 31st. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $30.29.

89bio Stock Up 1.9 %

ETNB stock opened at $8.64 on Thursday. 89bio has a one year low of $5.99 and a one year high of $13.71. The company has a debt-to-equity ratio of 0.09, a quick ratio of 11.66 and a current ratio of 11.66. The firm’s fifty day moving average is $8.79 and its 200 day moving average is $8.48. The firm has a market cap of $916.93 million, a PE ratio of -2.97 and a beta of 1.17.

89bio (NASDAQ:ETNB) last announced its quarterly earnings results on Thursday, March 6th. The company reported ($1.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.42).

Insiders Place Their Bets

In other news, Director Ra Capital Management, L.P. purchased 5,714,285 shares of the business’s stock in a transaction dated Thursday, January 30th. The stock was acquired at an average price of $8.75 per share, for a total transaction of $49,999,993.75. Following the acquisition, the director now directly owns 19,554,319 shares of the company’s stock, valued at approximately $171,100,291.25. This represents a 41.29 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Rohan Palekar acquired 5,000 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The stock was acquired at an average price of $7.89 per share, for a total transaction of $39,450.00. Following the completion of the acquisition, the chief executive officer now directly owns 471,236 shares of the company’s stock, valued at $3,718,052.04. The trade was a 1.07 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased 5,724,285 shares of company stock valued at $50,072,194 in the last three months. 2.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On 89bio

Several large investors have recently modified their holdings of the business. Federated Hermes Inc. lifted its position in 89bio by 206.9% in the fourth quarter. Federated Hermes Inc. now owns 6,283 shares of the company’s stock valued at $49,000 after buying an additional 4,236 shares during the last quarter. Quarry LP purchased a new position in shares of 89bio during the 4th quarter worth approximately $55,000. Kingswood Wealth Advisors LLC purchased a new stake in 89bio in the fourth quarter valued at approximately $86,000. Sandia Investment Management LP lifted its stake in 89bio by 28.5% during the fourth quarter. Sandia Investment Management LP now owns 11,286 shares of the company’s stock worth $88,000 after purchasing an additional 2,500 shares in the last quarter. Finally, Hsbc Holdings PLC purchased a new position in shares of 89bio during the fourth quarter worth $87,000.

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.