Wedbush Reiterates XOMA Corp to Neutral with Price Target $9

Brokerage firm Wedbush Reiterates its rating on XOMA Corp(XOMA). As per the latest information, Wedbush Lowers the price target to $9 per share from a prior target of $14. The shares have been rated Neutral. The rating by the stock financial advisor at Wedbush was issued on Mar 27, 2017 in a research report to their Investors and Clients.

XOMA Corp (XOMA) made into the market gainers list on Fridays trading session with the shares advancing 3.36% or 0.22 points. Due to strong positive momentum, the stock ended at $6.76, which is also near the day’s high of $6.95. The stock began the session at $6.7 and the volume stood at 2,28,762 shares. The 52-week high of the shares is $19 and the 52 week low is $3.96. The company has a current market capitalization of $51 M and it has 75,44,076 shares in outstanding.

XOMA Corp(XOMA) last announced its earnings results on Mar 16, 2017 for Fiscal Year 2016 and Q4.Company reported revenue of $524.000K. Analysts had an estimated revenue of $730.000K. Earnings per share were $-2.12. Analysts had estimated an EPS of $-2.32.

Several Insider Transactions has been reported to the SEC. On Mar 23, 2017, James R Neal (VP Business Development) sold 5,105 shares at $5.40 per share price.Also, On Mar 23, 2017, Thomas M. Burns (VP, Finance & Chief Financial) sold 2,598 shares at $5.40 per share price.On Dec 23, 2016, John Varian (director) sold 13,549 shares at $5.75 per share price, according to the Form-4 filing with the securities and exchange commission.

XOMA Corporation is engaged in the discovery and development of antibody-based therapeutics. The Company’s lead product candidate gevokizumab is a potent humanized allosteric-modulating monoclonal antibody that binds to the inflammatory cytokine interleukin-1 beta (IL-1 beta). The Company has initiated three pivotal clinical trials evaluating gevokizumab for the treatment of non-infectious intermediate posterior or pan-uveitis (NIU) and Behcet’s disease uveitis. The Company also has a gevokizumab Proof-of-Concept (POC) development program to identify other illness for late-stage development. These studies are known as the EYEGUARD program which includes EYEGUARD-A (patients with active NIU) EYEGUARD-B (patients with Behcet’s disease uveitis outside of the United States) and EYEGUARD-C (patients with a history of NIU controlled with systemic treatment).

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