Worth Watching: XBiotech Inc Gap Up Today Means Lower Risks Forward

Worth Watching: XBiotech Inc Gap Up Today Means Lower Risks Forward

The stock of XBiotech Inc (NASDAQ:XBIT) gapped up by $0.03 today and has $34.21 target or 143.00% above today’s $14.08 share price. The 8 months technical chart setup indicates low risk for the $473.69 million company. The gap was reported on Oct, 4 by Barchart.com. If the $34.21 price target is reached, the company will be worth $677.38 million more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. The stock increased 4.61% or $0.62 during the last trading session, hitting $14.08. About 102,427 shares traded hands. XBiotech Inc (NASDAQ:XBIT) has risen 80.74% since March 1, 2016 and is uptrending. It has outperformed by 68.53% the S&P500.

Analysts await XBiotech Inc (NASDAQ:XBIT) to report earnings on November, 11. They expect $-0.38 EPS, down 15.15% or $0.05 from last year’s $-0.33 per share. After $-0.42 actual EPS reported by XBiotech Inc for the previous quarter, Wall Street now forecasts -9.52% EPS growth.

According to Zacks Investment Research, “XBiotech Inc. is a biopharmaceutical company. The Company is engaged in discovering and developing True Human(TM) monoclonal antibodies for treating diseases. XBiotech Inc. is based in AUSTIN, United States.”

More notable recent XBiotech Inc (NASDAQ:XBIT) news were published by: Fool.com which released: “Why XBiotech Inc. Fell 33% Today” on July 05, 2016, also Marketwatch.com with their article: “XBiotech Inc. NASDAQ: XBIT” published on April 15, 2015, Fool.com published: “Why XBiotech Inc. Made a U-Turn Today” on December 08, 2015. More interesting news about XBiotech Inc (NASDAQ:XBIT) were released by: Quotes.Wsj.com and their article: “XBiotech Inc. XBIT (US: Nasdaq)” published on April 15, 2015 as well as Seekingalpha.com‘s news article titled: “XBiotech Inc: Beyond Market Expectations And A Price Target Of $35 Not Far …” with publication date: August 17, 2015.

XBIT Company Profile

XBiotech Inc., incorporated on October 23, 2005, is a clinical-stage biopharmaceutical company. The Firm is engaged in discovering and developing True Human monoclonal antibodies for treating a range of diseases. The Firm focuses on bringing its lead product candidate, Xilonix (MABp1), to market. The Firm has also developed a True Human monoclonal antibody discovery platform and manufacturing system. The Company’s therapeutic antibody, Xilonix, is being evaluated as a monotherapy to treat advanced stages of colorectal cancer. Xilonix neutralizes a pro-inflammatory protein produced by leukocytes and other cells, interleukin-1 alpha (IL-1a).

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