Zacks Investment Research Lowers XOMA Corporation (XOMA) to Hold

Zacks Investment Research cut shares of XOMA Corporation (NASDAQ:XOMA) from a buy rating to a hold rating in a report released on Tuesday morning.

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 research analysts have also weighed in on the stock. Wedbush reissued a hold rating on shares of XOMA Corporation in a report on Monday, August 14th. HC Wainwright reissued a buy rating and issued a $15.00 target price on shares of XOMA Corporation in a report on Thursday, August 10th. Finally, ValuEngine raised shares of XOMA Corporation from a strong sell rating to a sell rating in a report on Wednesday, July 12th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of Hold and an average target price of $10.67.

Shares of XOMA Corporation (NASDAQ XOMA) opened at 7.52 on Tuesday. The stock has a 50 day moving average of $7.25 and a 200-day moving average of $6.39. The company’s market capitalization is $57.14 million. XOMA Corporation has a one year low of $3.96 and a one year high of $14.00.

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A hedge fund recently raised its stake in XOMA Corporation stock. California Public Employees Retirement System increased its position in XOMA Corporation (NASDAQ:XOMA) by 95.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,780 shares of the biotechnology company’s stock after buying an additional 10,640 shares during the period. California Public Employees Retirement System owned 0.29% of XOMA Corporation worth $123,000 at the end of the most recent reporting period. 31.30% of the stock is currently owned by hedge funds and other institutional investors.

About XOMA Corporation

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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