XOMA (NASDAQ:XOMA) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of XOMA (NASDAQ:XOMA) from a hold rating to a buy rating in a research note issued to investors on Saturday, Zacks.com reports. The brokerage currently has $21.00 price target 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. “

Other analysts have also issued reports about the company. ValuEngine lowered XOMA from a sell rating to a strong sell rating in a report on Saturday. HC Wainwright set a $30.00 price objective on XOMA and gave the company a buy rating in a research note on Friday, September 27th. Finally, Wedbush reaffirmed a buy rating and issued a $25.00 price objective on shares of XOMA in a research note on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $25.33.

XOMA opened at $18.46 on Friday. The firm has a market cap of $159.50 million, a P/E ratio of -11.61 and a beta of 1.27. XOMA has a 52-week low of $11.02 and a 52-week high of $22.00. The company has a debt-to-equity ratio of 1.39, a quick ratio of 3.90 and a current ratio of 3.90. The business’s fifty day moving average is $18.66 and its 200-day moving average is $16.76.

XOMA (NASDAQ:XOMA) last released its earnings results on Tuesday, August 6th. The biotechnology company reported ($0.47) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.54) by $0.07. The company had revenue of $0.96 million for the quarter, compared to analyst estimates of $0.63 million. XOMA had a negative return on equity of 51.91% and a negative net margin of 72.20%. On average, research analysts predict that XOMA will post -1.15 earnings per share for the current fiscal year.

In related news, CFO Thomas M. Burns sold 3,829 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The stock was 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 of the company’s stock, valued at $228,032.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 disclosure for this sale can be found here. Insiders sold 13,111 shares of company stock worth $278,486 over the last ninety days. 9.89% of the stock is currently owned by insiders.

A number of large investors have recently added to or reduced their stakes in the stock. RBF Capital LLC bought a new position in XOMA during the second quarter valued at approximately $1,479,000. Athanor Capital LP bought a new position in XOMA during the second quarter valued at approximately $149,000. Stonepine Capital Management LLC raised its position in 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 acquiring an additional 43,019 shares in the last quarter. Paloma Partners Management Co bought a new position in XOMA during the second quarter valued at approximately $510,000. Finally, Morgan Stanley raised its position in shares of XOMA by 2,151.6% in the second quarter. Morgan Stanley now owns 23,889 shares of the biotechnology company’s stock valued at $355,000 after purchasing an additional 22,828 shares during the period. 44.47% of the stock is currently owned by institutional investors and hedge funds.

About XOMA

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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