Zacks: XBiotech Inc. (XBIT) Given $25.00 Average Target Price by Brokerages
XBiotech Inc. (NASDAQ:XBIT) has been assigned a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the company, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy rating.
Brokers have set a 1 year consensus target price of $25.00 for the company and are forecasting that the company will post ($0.46) earnings per share for the current quarter, according to Zacks. Zacks has also assigned XBiotech an industry rank of 105 out of 265 based on the ratings given to its competitors.
A number of brokerages have commented on XBIT. Zacks Investment Research cut shares of XBiotech from a “hold” rating to a “sell” rating in a research note on Saturday, August 20th. Noble Financial reissued a “buy” rating and issued a $30.00 price objective (up from $24.00) on shares of XBiotech in a research note on Tuesday, June 28th.
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Several institutional investors have recently modified their holdings of XBIT. BlackRock Advisors LLC boosted its position in XBiotech by 445.4% in the second quarter. BlackRock Advisors LLC now owns 5,929 shares of the biopharmaceutical company’s stock worth $124,000 after buying an additional 4,842 shares in the last quarter. American International Group Inc. boosted its position in XBiotech by 326.4% in the second quarter. American International Group Inc. now owns 10,067 shares of the biopharmaceutical company’s stock worth $211,000 after buying an additional 7,706 shares in the last quarter. Paradigm Asset Management Co. LLC purchased a new position in XBiotech during the second quarter worth approximately $213,000. Nationwide Fund Advisors boosted its position in XBiotech by 335.3% in the second quarter. Nationwide Fund Advisors now owns 11,292 shares of the biopharmaceutical company’s stock worth $236,000 after buying an additional 8,698 shares in the last quarter. Finally, Rhumbline Advisers purchased a new position in XBiotech during the second quarter worth approximately $279,000. 8.66% of the stock is owned by institutional investors and hedge funds.
Shares of XBiotech (NASDAQ:XBIT) traded up 3.13% during midday trading on Wednesday, reaching $14.85. 87,499 shares of the company’s stock were exchanged. The stock’s 50 day moving average price is $13.55 and its 200 day moving average price is $14.52. The company’s market cap is $481.76 million. XBiotech has a 12-month low of $6.36 and a 12-month high of $25.00.
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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