Xoma Corp (XOMA) Receives a Buy from H.C. Wainwright

By Ryan Adsit

H.C. Wainwright analyst Joseph Pantginis reiterated a Buy rating on Xoma Corp (NASDAQ: XOMA) today and set a price target of $49. The company’s shares opened today at $16.35, close to its 52-week low of $15.35.

Pantginis noted:

“Valuation disconnect continues even when considering a limited set of current assets. Regarding our valuation of XOMA we believe that the current share price is currently disconnected from the underlying value of even just its opportunity from Novartis (NVS; not rated) partnered assets, led by canakinumab (Ilaris).”

According to TipRanks.com, Pantginis is ranked 0 out of 5 stars with an average return of -7.0% and a 35.3% success rate. Pantginis covers the Healthcare sector, focusing on stocks such as SELLAS Life Sciences Group Inc, Applied Genetic Technologies, and Iovance Biotherapeutics Inc.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Xoma Corp with a $49 average price target.

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The company has a one-year high of $37.25 and a one-year low of $15.35. Currently, Xoma Corp has an average volume of 103.9K.

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XOMA Corp. engages in the discovery and development of innovative therapeutics derived from unique 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 Berkeley, CA.