XBiotech Inc. (XBIT) Lifted to “Buy” at Zacks Investment Research
XBiotech Inc. (NASDAQ:XBIT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Saturday. The firm currently has a $17.00 price target on the biopharmaceutical company’s stock. Zacks Investment Research’s target price would indicate a potential upside of 13.26% from the stock’s current price.
According to Zacks, “XBiotech Inc. is a biopharmaceutical company. The Company is engaged in discovering and developing True Human(TM) monoclonal antibodies for treating diseases. XBiotech Inc. is based in AUSTIN, United States. “
Shares of XBiotech (NASDAQ:XBIT) opened at 15.01 on Friday. The stock’s 50 day moving average is $13.93 and its 200-day moving average is $14.73. XBiotech has a one year low of $6.36 and a one year high of $25.00. The firm’s market cap is $486.95 million.
XBiotech (NASDAQ:XBIT) last issued its quarterly earnings results on Monday, November 14th. The biopharmaceutical company reported ($0.38) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.08. Analysts anticipate that XBiotech will post ($1.70) EPS for the current fiscal year.
In other XBiotech news, VP Queena Han sold 19,573 shares of the company’s stock in a transaction dated Tuesday, November 15th. The shares were sold at an average price of $15.00, for a total transaction of $293,595.00. Following the transaction, the vice president now directly owns 19,573 shares in the company, valued at $293,595. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 37.73% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Advisors LLC raised its position in shares of XBiotech by 445.4% in the second quarter. BlackRock Advisors LLC now owns 5,929 shares of the biopharmaceutical company’s stock valued at $124,000 after buying an additional 4,842 shares during the last quarter. American International Group Inc. raised its position in shares of XBiotech by 326.4% in the second quarter. American International Group Inc. now owns 10,067 shares of the biopharmaceutical company’s stock valued at $211,000 after buying an additional 7,706 shares during the last quarter. Paradigm Asset Management Co. LLC bought a new position in shares of XBiotech during the second quarter valued at $213,000. Nationwide Fund Advisors raised its position in shares of XBiotech by 335.3% in the second quarter. Nationwide Fund Advisors now owns 11,292 shares of the biopharmaceutical company’s stock valued at $236,000 after buying an additional 8,698 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD bought a new position in shares of XBiotech during the third quarter valued at $157,000. Institutional investors own 9.01% of the company’s stock.
XBiotech Company Profile
XBiotech Inc is a clinical-stage biopharmaceutical company. The Company is engaged in discovering and developing True Human monoclonal antibodies for treating a range of diseases. The Company focuses on bringing its lead product candidate, Xilonix (MABp1), to market. The Company has also developed a True Human monoclonal antibody discovery platform and manufacturing system.
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