HC Wainwright reiterated their buy rating on shares of 89bio (NASDAQ:ETNB – Free Report) in a report issued on Tuesday morning, Benzinga reports. They currently have a $29.00 price target on the stock. HC Wainwright also issued estimates for 89bio’s Q3 2024 earnings at ($0.51) EPS, Q4 2024 earnings at ($0.53) EPS, FY2024 earnings at ($2.06) EPS, Q1 2025 earnings at ($0.54) EPS, Q2 2025 earnings at ($0.54) EPS, Q3 2025 earnings at ($0.55) EPS, Q4 2025 earnings at ($0.63) EPS, FY2025 earnings at ($2.25) EPS, FY2026 earnings at ($2.77) EPS and FY2028 earnings at ($0.32) EPS.
Several other research firms have also weighed in on ETNB. Bank of America reissued a buy rating and set a $30.00 price objective on shares of 89bio in a research note on Monday, April 22nd. Evercore ISI dropped their price target on 89bio from $37.00 to $33.00 and set an outperform rating on the stock in a research note on Wednesday, May 15th. Finally, Cantor Fitzgerald restated an overweight rating and set a $29.00 price target on shares of 89bio in a report on Monday, July 1st. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, 89bio has an average rating of Moderate Buy and an average target price of $30.14.
Read Our Latest Analysis on 89bio
89bio Stock Performance
89bio (NASDAQ:ETNB – Get Free Report) last posted its quarterly earnings data on Monday, August 5th. The company reported ($0.48) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.56) by $0.08. During the same quarter in the prior year, the firm earned ($0.52) earnings per share. On average, equities analysts forecast that 89bio will post -2.42 EPS for the current year.
Hedge Funds Weigh In On 89bio
Institutional investors and hedge funds have recently bought and sold shares of the stock. Wetzel Investment Advisors Inc. acquired a new stake in 89bio in the 4th quarter worth $34,000. AJOVista LLC bought a new stake in shares of 89bio in the fourth quarter valued at about $42,000. Quest Partners LLC increased its stake in 89bio by 226.2% during the second quarter. Quest Partners LLC now owns 8,113 shares of the company’s stock valued at $65,000 after acquiring an additional 5,626 shares during the period. Ameritas Investment Partners Inc. lifted its position in shares of 89bio by 28.4% in the 1st quarter. Ameritas Investment Partners Inc. now owns 7,886 shares of the company’s stock worth $92,000 after acquiring an additional 1,744 shares during the period. Finally, Principal Financial Group Inc. bought a new stake in shares of 89bio during the first quarter valued at approximately $124,000.
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.
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