XBiotech Inc. (XBIT) Stock Rating Upgraded by Zacks Investment Research
XBiotech Inc. (NASDAQ:XBIT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Saturday. The brokerage presently has a $17.00 price objective on the biopharmaceutical company’s stock. Zacks Investment Research’s target price suggests 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. XBiotech has a one year low of $6.36 and a one year high of $25.00. The company’s market capitalization is $486.95 million. The stock has a 50 day moving average of $13.93 and a 200-day moving average of $14.73.
XBiotech (NASDAQ:XBIT) last announced its earnings results on Monday, November 14th. The biopharmaceutical company reported ($0.38) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.08. On average, equities analysts forecast that XBiotech will post ($1.70) earnings per share for the current fiscal year.
In related news, VP Queena Han sold 19,573 shares of XBiotech stock in a transaction on Tuesday, November 15th. The shares were sold at an average price of $15.00, for a total transaction of $293,595.00. Following the completion of the transaction, the vice president now owns 19,573 shares of the company’s stock, valued at $293,595. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 37.73% of the company’s stock.
A number of large investors have recently bought and sold shares of XBIT. Price T Rowe Associates Inc. MD bought a new stake in XBiotech during the third quarter worth approximately $157,000. Credit Suisse AG boosted its stake in XBiotech by 122.8% in the third quarter. Credit Suisse AG now owns 41,018 shares of the biopharmaceutical company’s stock worth $552,000 after buying an additional 22,605 shares during the last quarter. The Manufacturers Life Insurance Company bought a new stake in XBiotech during the third quarter worth approximately $171,000. Cadian Capital Management LP bought a new stake in XBiotech during the third quarter worth approximately $1,882,000. Finally, Morgan Stanley boosted its stake in XBiotech by 1.8% in the third quarter. Morgan Stanley now owns 16,318 shares of the biopharmaceutical company’s stock worth $219,000 after buying an additional 282 shares during the last quarter. Institutional investors and hedge funds 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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