89Bio Inc reports results for the quarter ended in June - Earnings Summary

89bio

07/08/2024 13:00

* 89Bio Inc  ETNB.OQ  reported a quarterly adjusted loss
of 48
cents​​ per share for the quarter ended in June, higher than the
same quarter last year, when the company reported EPS of -52
cents.  The mean expectation of nine analysts for the quarter
was for a loss of 57 cents per share. Wall Street expected
results to range from -60 cents to -51 cents per share.
    * Reported revenue was zero​; analysts expected zero. 
    * 89Bio Inc's reported EPS for the quarter was a loss of 48
cents​.
    * The company reported a quarterly loss of $47.97 million.
    * 89Bio Inc shares had fallen by 0.9% this quarter and
lost 28.9%
so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 12.5%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 8 "strong buy" or "buy," 2
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the biotechnology
&
medical research peer group is also "buy"

Wall Street's median 12-month price target for 89Bio Inc is
$30.00 
This summary was machine generated from LSEG data August 7 at
11:59 a.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      -0.57          -0.48          Beat
 Mar. 31 2024      -0.46          -0.54          Missed
 Dec. 31 2023      -0.49          -0.50          Missed
 Sep. 30 2023      -0.53          -0.45          Beat