Zacks Investment Research Downgrades XOMA Corporation (XOMA) to Hold

XOMA Corporation (NASDAQ:XOMA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.

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 equities research analysts also recently weighed in on XOMA. ValuEngine raised XOMA Corporation from a “strong sell” rating to a “sell” rating in a research report on Wednesday, July 12th. HC Wainwright reaffirmed a “buy” rating and set a $15.00 price objective on shares of XOMA Corporation in a research report on Thursday, August 10th. Finally, Wedbush reaffirmed a “hold” rating on shares of XOMA Corporation in a research report on Monday, August 14th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $27.33.

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A hedge fund recently raised its stake in XOMA Corporation stock. California Public Employees Retirement System lifted its position in XOMA Corporation (NASDAQ:XOMA) by 95.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,780 shares of the biotechnology company’s stock after purchasing an additional 10,640 shares during the quarter. California Public Employees Retirement System owned about 0.29% of XOMA Corporation worth $123,000 as of its most recent SEC filing. 32.92% of the stock is currently owned by hedge funds and other institutional investors.

XOMA Corporation Company Profile

XOMA Corporation is a development-stage biotechnology company. The Company focuses on the discovery and development of monoclonal antibody-based therapeutics. It has five products in its endocrine portfolio, two of which are developed as part of its XOMA Metabolism (XMet) platform. Its products include XOMA 358, XOMA 129, XOMA 213 and Gevokizumab.

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