XBiotech (NASDAQ:XBIT) Price Target Increased to $28.00 by Analysts at Piper Jaffray Companies

XBiotech (NASDAQ:XBIT) had its price target lifted by research analysts at Piper Jaffray Companies from $16.00 to $28.00 in a report issued on Wednesday, The Fly reports. The brokerage presently has an “overweight” rating on the biopharmaceutical company’s stock. Piper Jaffray Companies’ price target suggests a potential upside of 41.63% from the company’s previous close.

Several other research analysts have also recently commented on the stock. BidaskClub cut shares of XBiotech from a “buy” rating to a “hold” rating in a report on Wednesday, December 4th. Zacks Investment Research raised shares of XBiotech from a “hold” rating to a “buy” rating and set a $14.00 target price on the stock in a report on Thursday, November 21st. Finally, ValuEngine cut shares of XBiotech from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd.

XBiotech stock opened at $19.77 on Wednesday. The stock has a market cap of $801.19 million, a P/E ratio of -33.51 and a beta of 0.46. XBiotech has a twelve month low of $4.31 and a twelve month high of $22.95. The company’s 50-day moving average price is $12.09 and its two-hundred day moving average price is $9.14.

XBiotech (NASDAQ:XBIT) last released its quarterly earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.15) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.15). As a group, equities analysts forecast that XBiotech will post -0.62 EPS for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Millennium Management LLC increased its holdings in shares of XBiotech by 25.7% during the third quarter. Millennium Management LLC now owns 16,662 shares of the biopharmaceutical company’s stock worth $174,000 after purchasing an additional 3,411 shares during the period. Squarepoint Ops LLC bought a new position in shares of XBiotech during the third quarter worth approximately $135,000. Barclays PLC increased its holdings in shares of XBiotech by 12.2% during the third quarter. Barclays PLC now owns 15,905 shares of the biopharmaceutical company’s stock worth $166,000 after purchasing an additional 1,728 shares during the period. California State Teachers Retirement System increased its holdings in shares of XBiotech by 14.9% during the third quarter. California State Teachers Retirement System now owns 29,563 shares of the biopharmaceutical company’s stock worth $309,000 after purchasing an additional 3,841 shares during the period. Finally, State Street Corp increased its holdings in shares of XBiotech by 27.8% during the third quarter. State Street Corp now owns 351,584 shares of the biopharmaceutical company’s stock worth $3,678,000 after purchasing an additional 76,556 shares during the period. 11.96% of the stock is currently owned by institutional investors.

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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