89bio Inc (NASDAQ: ETNB) Is A Risk Capital Investor’s Play

In the last trading session, 1.02 million 89bio Inc (NASDAQ:ETNB) shares changed hands as the company’s beta touched 0.85. With the company’s per share price at $7.74 changed hands at -$0.17 or -2.15% during last session, the market valuation stood at $585.45M. ETNB’s last price was a discount, traded about -196.25% off its 52-week high of $22.93. The share price had its 52-week low at $6.57, which suggests the last value was 15.12% up since then. When we look at 89bio Inc’s average trading volume, we note the 10-day average is 1.31 million shares, with the 3-month average coming to 1.53 million.

Analysts gave the 89bio Inc (ETNB) stock a consensus recommendation rating of a Buy, calculated at a mean rating of 1.20. If we narrow down to specifics, the data shows that 0 out of 10 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 1 recommended ETNB as a Hold, 9 felt it is a Buy and 0 rated the stock as Underweight. 89bio Inc’s EPS for the current quarter is expected to be -$0.51.

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89bio Inc (NASDAQ:ETNB) trade information

Instantly ETNB was in red as seen at the end of in last trading. With action 6.32%, the performance over the past five days has been green. The drop to weekly highs of 8.18 on Monday, 11/20/23 subtracted -2.15% to the stock’s daily price. The company’s shares are showing year-to-date downside of -39.20%, with the 5-day performance at 6.32% in the green. However, in the 30-day time frame, 89bio Inc (NASDAQ:ETNB) is 13.16% up. Looking at the short shares, we see there were 5.43 million shares sold at short interest cover period of 2.32 days.

The consensus price target for the stock as assigned by Wall Street analysts is $32.44, meaning bulls need an upside of 76.14% from its current market value. According to analyst projections, ETNB’s forecast low is $24.00 with $50.00 as the target high. To hit the forecast high, the stock’s price needs a -545.99% plunge from its current level, while the stock would need to soar -210.08% for it to hit the projected low.

89bio Inc (ETNB) estimates and forecasts

Data shows that the 89bio Inc share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -55.31% over the past 6 months, a 28.67% in annual growth rate that is considerably higher than the industry average of 14.90%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for 89bio Inc will fall -6.30%, while the growth in revenue is estimated to hit -7.40% for the next quarter.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -25.73%. The 2023 estimates are for 89bio Inc earnings to increase by 28.54%, but the outlook for the next 5-year period is at 11.00% per year.

ETNB Dividends

89bio Inc is expected to release its next quarterly earnings report on November 08.

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