XOMA Royalty (NASDAQ:XOMA) Downgraded to Strong Sell Rating by Zacks Research

Key Points

• Zacks Research downgraded XOMA Royalty (NASDAQ:XOMA) from a "hold" to a "strong sell" in a report issued Tuesday.
• Analyst coverage remains mixed—three Buys, two Holds and one Sell—resulting in a MarketBeat consensus of Hold and a consensus target price of $61.60, while the stock recently traded near $26.96 with a market cap of about $334 million.

XOMA Royalty (NASDAQ:XOMA - Get Free Report) was downgraded by stock analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

A number of other research analysts have also recently commented on XOMA. Benchmark reaffirmed a "buy" rating on shares of XOMA Royalty in a research report on Friday, December 12th. TD Cowen upgraded shares of XOMA Royalty to a "hold" rating in a research report on Friday, February 13th. Leerink Partners reissued an "outperform" rating on shares of XOMA Royalty in a research note on Tuesday, February 24th. Wall Street Zen lowered shares of XOMA Royalty from a "buy" rating to a "hold" rating in a report on Saturday, November 15th. Finally, UBS Group set a $76.00 price objective on shares of XOMA Royalty in a research report on Tuesday, December 9th. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, XOMA Royalty presently has a consensus rating of "Hold" and a consensus target price of $61.60.

XOMA Royalty Stock Performance

Shares of XOMA Royalty stock opened at $26.96 on Tuesday. The firm has a market cap of $333.76 million, a PE ratio of 36.43 and a beta of 0.86. The company has a quick ratio of 3.91, a current ratio of 3.91 and a debt-to-equity ratio of 1.07. XOMA Royalty has a 52 week low of $18.35 and a 52 week high of $39.92. The business's fifty day simple moving average is $26.15 and its 200-day simple moving average is $30.72.

Hedge Funds Weigh In On XOMA Royalty

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Opaleye Management Inc. grew its position in XOMA Royalty by 14.7% in the 4th quarter. Opaleye Management Inc. now owns 292,590 shares of the biotechnology company's stock valued at $7,780,000 after acquiring an additional 37,503 shares in the last quarter. Woodline Partners LP lifted its position in shares of XOMA Royalty by 16.5% during the third quarter. Woodline Partners LP now owns 209,945 shares of the biotechnology company's stock worth $8,091,000 after purchasing an additional 29,715 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of XOMA Royalty by 4.6% in the third quarter. Vanguard Group Inc. now owns 668,111 shares of the biotechnology company's stock valued at $25,749,000 after purchasing an additional 29,298 shares during the period. Stonepine Capital Management LLC boosted its stake in shares of XOMA Royalty by 17.2% in the second quarter. Stonepine Capital Management LLC now owns 152,143 shares of the biotechnology company's stock valued at $3,834,000 after purchasing an additional 22,330 shares during the period. Finally, Occudo Quantitative Strategies LP acquired a new position in shares of XOMA Royalty in the second quarter valued at approximately $527,000. 95.92% of the stock is currently owned by hedge funds and other institutional investors.

XOMA Royalty Company Profile

XOMA Royalty NASDAQ: XOMA is a specialty healthcare royalty company that acquires and manages royalty interests in small-molecule and biologic drugs. The company's business model centers on purchasing royalty streams on marketed or near-market pharmaceutical products, providing capital to developers in exchange for a share of future net sales. By focusing on late-stage assets with established clinical and commercial profiles, XOMA Royalty aims to generate predictable, long-term cash flows for its shareholders.

The company's investment portfolio spans a range of therapeutic areas, including oncology, immunology and rare diseases.

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