XOMA (NASDAQ:XOMA) Upgraded to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of XOMA (NASDAQ:XOMA) from a hold rating to a buy rating in a report published on Saturday morning, Zacks.com reports. Zacks Investment Research currently has $21.00 price objective on the biotechnology company’s stock.
According to Zacks, “XOMA Corporation is a biopharmaceutical company engaged in the discovery, development, and manufacturing of therapeutic antibodies to treat autoimmune, infectious, inflammatory, and oncological diseases. The company’s flagship product is gevokizumab, a humanized antibody to interleukin-1ß with potential for the treatment of the inflammatory cause of multiple diseases. XOMA Corporation, formally known as XOMA Ltd., is headquartered in Berkeley, California. “
A number of other brokerages have also recently issued reports on XOMA. ValuEngine cut shares of XOMA from a sell rating to a strong sell rating in a report on Saturday. Wedbush reissued a buy rating and issued a $25.00 target price on shares of XOMA in a report on Wednesday, August 7th. Finally, HC Wainwright set a $30.00 target price on shares of XOMA and gave the stock a buy rating in a report on Friday, September 27th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $25.33.
XOMA (NASDAQ:XOMA) last issued its earnings results on Tuesday, August 6th. The biotechnology company reported ($0.47) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.54) by $0.07. XOMA had a negative net margin of 72.20% and a negative return on equity of 51.91%. The firm had revenue of $0.96 million for the quarter, compared to analysts’ expectations of $0.63 million. As a group, equities research analysts expect that XOMA will post -1.15 earnings per share for the current year.
In other XOMA news, CEO James R. Neal sold 5,452 shares of the firm’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $20.23, for a total value of $110,293.96. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Thomas M. Burns sold 3,829 shares of XOMA stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $21.96, for a total value of $84,084.84. Following the sale, the chief financial officer now directly owns 10,384 shares in the company, valued at approximately $228,032.64. The disclosure for this sale can be found here. Insiders sold 13,111 shares of company stock worth $278,486 in the last three months. 9.89% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Athanor Capital LP bought a new stake in shares of XOMA during the second quarter valued at approximately $149,000. Morgan Stanley raised its holdings in shares of XOMA by 2,151.6% during the second quarter. Morgan Stanley now owns 23,889 shares of the biotechnology company’s stock valued at $355,000 after buying an additional 22,828 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of XOMA during the second quarter valued at approximately $434,000. Paloma Partners Management Co bought a new stake in shares of XOMA during the second quarter valued at approximately $510,000. Finally, Stonepine Capital Management LLC raised its holdings in shares of XOMA by 18.9% during the second quarter. Stonepine Capital Management LLC now owns 270,449 shares of the biotechnology company’s stock valued at $4,019,000 after buying an additional 43,019 shares during the last quarter. 44.47% of the stock is currently owned by institutional investors.
XOMA Corporation, a biotech company, discovers and develops therapeutic candidates in the United States, Europe, and the Asia Pacific. The company has a pipeline of monoclonal antibodies and technologies to license to pharmaceutical and biotechnology companies to further their clinical development. Its proprietary product candidates include X213, an allosteric inhibitor of prolactin action; XMetA, an insulin receptor-activating antibody to provide long-acting reduction of hyperglycemia in Type 2 diabetic patients; IL-2, a therapy for metastatic melanoma and renal cell carcinoma; and PTH1R, an anti-parathyroid receptor pipeline to address unmet medical needs, including primary hyperparathyroidism and humoral hypercalcemia of malignancy.
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