XBiotech Inc (NASDAQ:XBIT) Expected to Post Earnings of -$0.15 Per Share

Brokerages forecast that XBiotech Inc (NASDAQ:XBIT) will report ($0.15) earnings per share for the current fiscal quarter, according to Zacks. Zero analysts have provided estimates for XBiotech’s earnings. XBiotech posted earnings per share of ($0.14) in the same quarter last year, which would suggest a negative year over year growth rate of 7.1%. The business is expected to report its next earnings report on Wednesday, October 30th.

According to Zacks, analysts expect that XBiotech will report full-year earnings of ($0.62) per share for the current year. For the next year, analysts expect that the company will report earnings of ($0.86) per share. Zacks’ earnings per share averages are an average based on a survey of research firms that that provide coverage for XBiotech.

XBiotech (NASDAQ:XBIT) last released its earnings results on Friday, August 9th. The biopharmaceutical company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.01).

A number of research firms have recently commented on XBIT. Zacks Investment Research restated a “sell” rating on shares of XBiotech in a research note on Saturday. ValuEngine downgraded XBiotech from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. Finally, BidaskClub downgraded XBiotech from a “strong-buy” rating to a “buy” rating in a research report on Friday, October 4th.

XBIT stock traded up $0.39 during midday trading on Monday, hitting $9.79. The company’s stock had a trading volume of 110,060 shares, compared to its average volume of 158,954. The company’s fifty day moving average price is $9.28 and its 200 day moving average price is $8.45. XBiotech has a twelve month low of $3.30 and a twelve month high of $11.74. The stock has a market capitalization of $373.20 million, a P/E ratio of -16.59 and a beta of 0.44.

Several large investors have recently added to or reduced their stakes in the stock. Citadel Advisors LLC acquired a new stake in shares of XBiotech in the second quarter valued at about $146,000. Vanguard Group Inc. increased its position in shares of XBiotech by 35.9% in the second quarter. Vanguard Group Inc. now owns 982,420 shares of the biopharmaceutical company’s stock valued at $7,447,000 after acquiring an additional 259,660 shares during the last quarter. A.R.T. Advisors LLC acquired a new stake in shares of XBiotech in the second quarter valued at about $101,000. BlackRock Inc. increased its position in shares of XBiotech by 1,037.4% in the second quarter. BlackRock Inc. now owns 1,193,914 shares of the biopharmaceutical company’s stock valued at $9,049,000 after acquiring an additional 1,088,946 shares during the last quarter. Finally, Sofinnova Investments Inc. increased its position in shares of XBiotech by 26.9% in the second quarter. Sofinnova Investments Inc. now owns 331,811 shares of the biopharmaceutical company’s stock valued at $2,515,000 after acquiring an additional 70,420 shares during the last quarter. 10.75% of the stock is currently owned by institutional investors and hedge funds.

About XBiotech

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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Earnings History and Estimates for XBiotech (NASDAQ:XBIT)

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