XOMA (NASDAQ:XOMA) Downgraded to “Sell” at Zacks Investment Research

Zacks Investment Research downgraded shares of XOMA (NASDAQ:XOMA) from a hold rating to a sell rating in a report released on Wednesday, Zacks.com reports.

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. “

Several other research analysts have also recently issued reports on XOMA. Wedbush cut XOMA from an outperform rating to a neutral rating and set a $22.00 target price on the stock. in a research report on Tuesday, September 7th. HC Wainwright raised their price objective on shares of XOMA from $56.00 to $69.00 and gave the stock a buy rating in a report on Friday, October 8th. Finally, Aegis reduced their target price on shares of XOMA from $60.00 to $56.00 and set a buy rating for the company in a report on Thursday, September 9th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of Hold and an average price target of $43.75.

XOMA opened at $24.73 on Wednesday. The company’s 50-day simple moving average is $26.87 and its two-hundred day simple moving average is $31.23. XOMA has a 52-week low of $19.25 and a 52-week high of $46.32. The stock has a market capitalization of $279.72 million, a P/E ratio of 117.76 and a beta of 0.87.

XOMA (NASDAQ:XOMA) last posted its earnings results on Thursday, August 5th. The biotechnology company reported ($0.31) EPS for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.04. The business had revenue of $0.90 million during the quarter, compared to the consensus estimate of $2.09 million. XOMA had a net margin of 16.11% and a return on equity of 5.88%. Research analysts forecast that XOMA will post -1.04 earnings per share for the current fiscal year.

Several hedge funds have recently made changes to their positions in XOMA. Morgan Stanley boosted its stake in shares of XOMA by 181.6% in the second quarter. Morgan Stanley now owns 2,630 shares of the biotechnology company’s stock worth $90,000 after acquiring an additional 1,696 shares during the period. Wells Fargo & Company MN boosted its stake in XOMA by 78.5% in the 2nd quarter. Wells Fargo & Company MN now owns 3,774 shares of the biotechnology company’s stock worth $127,000 after purchasing an additional 1,660 shares during the period. State Street Corp grew its holdings in XOMA by 13.7% during the 2nd quarter. State Street Corp now owns 120,424 shares of the biotechnology company’s stock valued at $4,094,000 after buying an additional 14,475 shares in the last quarter. Nuveen Asset Management LLC raised its position in shares of XOMA by 14.2% during the second quarter. Nuveen Asset Management LLC now owns 24,146 shares of the biotechnology company’s stock valued at $821,000 after buying an additional 2,995 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of XOMA by 2.3% in the second quarter. Goldman Sachs Group Inc. now owns 34,732 shares of the biotechnology company’s stock worth $1,180,000 after buying an additional 788 shares in the last quarter. Hedge funds and other institutional investors own 55.67% of the company’s stock.

XOMA Company Profile

XOMA Corp. engages in the discovery and development of therapeutics derived from platform of antibody technologies. Its products includes X358, X213, X129, and gevokizumab. The company was founded by Patrick J. Scannon in 1981 and is headquartered in Emeryville, CA.

Recommended Story: What economic reports are most valuable to investors?

Get a free copy of the Zacks research report on XOMA (XOMA)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for XOMA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for XOMA and related companies with MarketBeat.com's FREE daily email newsletter.