Brokerages forecast that XBiotech Inc (NASDAQ:XBIT) will announce earnings per share (EPS) of ($0.15) for the current quarter, Zacks Investment Research reports. Zero analysts have issued estimates for XBiotech’s earnings. XBiotech posted earnings of ($0.14) per share in the same quarter last year, which suggests a negative year-over-year growth rate of 7.1%. The business is scheduled to announce its next quarterly earnings report on Wednesday, November 13th.
According to Zacks, analysts expect that XBiotech will report full year earnings of ($0.62) per share for the current year. For the next fiscal year, analysts anticipate that the firm will report earnings of ($0.86) per share. Zacks’ earnings per share averages are an average based on a survey of research firms that follow XBiotech.
XBiotech (NASDAQ:XBIT) last posted its quarterly earnings results on Friday, August 9th. The biopharmaceutical company reported ($0.16) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.15) by ($0.01).
XBIT has been the topic of several recent analyst reports. ValuEngine downgraded shares of XBiotech from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. BidaskClub raised shares of XBiotech from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 30th. Finally, Zacks Investment Research reissued a “sell” rating on shares of XBiotech in a research note on Saturday, October 26th.
Shares of XBIT traded up $0.57 during mid-day trading on Tuesday, reaching $11.09. The stock had a trading volume of 97,500 shares, compared to its average volume of 156,232. XBiotech has a 12 month low of $3.65 and a 12 month high of $11.74. The firm has a market cap of $429.39 million, a price-to-earnings ratio of -18.80 and a beta of 0.45. The business has a fifty day moving average of $9.76 and a 200 day moving average of $8.54.
Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. raised its stake 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 period. Vanguard Group Inc. raised its stake 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 period. Sofinnova Investments Inc. raised its stake 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 period. Northern Trust Corp raised its stake in shares of XBiotech by 72.5% in the second quarter. Northern Trust Corp now owns 75,528 shares of the biopharmaceutical company’s stock valued at $572,000 after acquiring an additional 31,752 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in XBiotech by 217.8% in the 2nd 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 during the period. 10.76% of the stock is currently owned by institutional investors and hedge funds.
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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