XBiotech (NASDAQ:XBIT) Rating Lowered to Buy at BidaskClub

XBiotech (NASDAQ:XBIT) was downgraded by equities research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a report released on Friday, BidAskClub reports.

Other analysts also recently issued research reports about the stock. Zacks Investment Research downgraded shares of XBiotech from a “hold” rating to a “sell” rating in a research report on Saturday, September 28th. ValuEngine downgraded shares of XBiotech from a “hold” rating to a “sell” rating in a research report on Wednesday. Finally, Piper Jaffray Companies initiated coverage on shares of XBiotech in a research report on Friday, June 14th. They issued an “overweight” rating and a $13.00 price objective for the company.

NASDAQ XBIT traded down $0.25 during mid-day trading on Friday, hitting $9.06. The company’s stock had a trading volume of 11,180 shares, compared to its average volume of 150,048. XBiotech has a 52-week low of $3.12 and a 52-week high of $11.74. The stock’s fifty day simple moving average is $9.00 and its two-hundred day simple moving average is $8.61. The firm has a market capitalization of $382.21 million, a P/E ratio of -15.41 and a beta of 0.44.

XBiotech (NASDAQ:XBIT) last posted its quarterly earnings results on Friday, August 9th. The biopharmaceutical company reported ($0.16) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.15) by ($0.01). As a group, research analysts anticipate that XBiotech will post -0.62 earnings per share for the current year.

A number of large investors have recently modified their holdings of XBIT. Marshall Wace LLP acquired a new stake in XBiotech in the first quarter valued at approximately $682,000. Strs Ohio acquired a new stake in XBiotech in the second quarter valued at approximately $357,000. JPMorgan Chase & Co. acquired a new stake in shares of XBiotech during the second quarter worth approximately $34,000. Charles Schwab Investment Management Inc. acquired a new stake in shares of XBiotech during the second quarter worth approximately $309,000. Finally, Bank of New York Mellon Corp grew its position in shares of XBiotech by 217.8% during the second quarter. Bank of New York Mellon Corp now owns 53,136 shares of the biopharmaceutical company’s stock worth $403,000 after buying an additional 36,415 shares in the last quarter. 10.75% of the stock is owned by institutional investors.

XBiotech Company Profile

XBiotech Inc, a pre-market biopharmaceutical company, engages in discovering and developing True Human monoclonal antibodies for treating various diseases. The company's lead product is bermekimab, a therapeutic antibody that neutralizes interleukin-1 alpha, which has completed Phase III clinical trial in Europe for the treatment of symptomatic and advanced colorectal cancer.

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