XOMA (NASDAQ:XOMA) Upgraded by Wall Street Zen to "Buy" Rating

XOMA (NASDAQ:XOMA - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a note issued to investors on Saturday.

Several other analysts have also issued reports on the stock. HC Wainwright reiterated a "buy" rating and issued a $104.00 target price on shares of XOMA in a research note on Wednesday, May 28th. Benchmark started coverage on shares of XOMA in a research note on Thursday, April 17th. They issued a "buy" rating and a $35.00 target price for the company.

XOMA Stock Down 3.0%

XOMA stock traded down $0.75 during midday trading on Friday, reaching $23.85. 35,900 shares of the company's stock traded hands, compared to its average volume of 31,550. The company has a market cap of $285.41 million, a price-to-earnings ratio of -6.85 and a beta of 0.94. The firm's fifty day moving average price is $23.91 and its 200-day moving average price is $24.70. The company has a quick ratio of 7.52, a current ratio of 7.52 and a debt-to-equity ratio of 1.28. XOMA has a 52 week low of $18.35 and a 52 week high of $35.00.

XOMA (NASDAQ:XOMA - Get Free Report) last announced its quarterly earnings results on Tuesday, May 13th. The biotechnology company reported $0.06 EPS for the quarter, beating analysts' consensus estimates of ($0.26) by $0.32. The business had revenue of $15.91 million during the quarter, compared to analyst estimates of $6.75 million. XOMA had a negative net margin of 151.34% and a negative return on equity of 24.95%. As a group, sell-side analysts forecast that XOMA will post -1.41 earnings per share for the current fiscal year.

Insider Transactions at XOMA

In related news, CEO Owen Hughes sold 25,637 shares of the business's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $25.38, for a total value of $650,667.06. Following the transaction, the chief executive officer now directly owns 62,701 shares of the company's stock, valued at approximately $1,591,351.38. The trade was a 29.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CIO Bradley Sitko purchased 4,134 shares of the business's stock in a transaction that occurred on Friday, March 21st. The stock was bought at an average cost of $23.89 per share, for a total transaction of $98,761.26. Following the completion of the acquisition, the executive now directly owns 10,484 shares in the company, valued at $250,462.76. The trade was a 65.10% increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 29,312 shares of company stock worth $735,061 in the last quarter. 9.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On XOMA

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Rhumbline Advisers lifted its holdings in XOMA by 18.1% during the fourth quarter. Rhumbline Advisers now owns 11,065 shares of the biotechnology company's stock valued at $291,000 after purchasing an additional 1,699 shares during the last quarter. New York State Common Retirement Fund lifted its holdings in XOMA by 51.2% during the fourth quarter. New York State Common Retirement Fund now owns 2,362 shares of the biotechnology company's stock valued at $62,000 after purchasing an additional 800 shares during the last quarter. Los Angeles Capital Management LLC purchased a new stake in XOMA during the fourth quarter valued at about $206,000. Charles Schwab Investment Management Inc. lifted its holdings in XOMA by 5.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 23,113 shares of the biotechnology company's stock valued at $607,000 after purchasing an additional 1,276 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in XOMA by 238.9% during the fourth quarter. JPMorgan Chase & Co. now owns 12,089 shares of the biotechnology company's stock valued at $318,000 after purchasing an additional 8,522 shares during the last quarter. 95.92% of the stock is owned by hedge funds and other institutional investors.

XOMA Company Profile

XOMA Corporation operates as a biotech royalty aggregator in the United States and the Asia Pacific. It has a portfolio of economic rights to future potential milestone and royalty payments associated with partnered commercial and pre-commercial therapeutic candidates. The company also focuses on early to mid-stage clinical assets primarily in Phase 1 and 2 with commercial sales potential that are licensed to partners; and acquires milestone and royalty revenue streams on late-stage clinical or commercial assets.