XOMA Royalty (NASDAQ:XOMA) Announces Earnings Results

Key Points

• XOMA Royalty reported an earnings per share (EPS) of $0.48 for the quarter, significantly beating the consensus estimate of ($0.12) by $0.60.
• The company's revenue for the quarter totaled $13.13 million, exceeding expectations of $9.39 million.
• Insider trading activity included CEO Owen Hughes selling 25,637 shares and major shareholder Bvf Partners L.P. selling 392,723 shares, indicating a decrease in ownership positions.

XOMA Royalty (NASDAQ:XOMA - Get Free Report) posted its quarterly earnings results on Wednesday. The biotechnology company reported $0.48 earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.60, Zacks reports. The firm had revenue of $13.13 million during the quarter, compared to the consensus estimate of $9.39 million. XOMA Royalty had a negative net margin of 27.57% and a positive return on equity of 2.63%.

XOMA Royalty Stock Up 1.0%

Shares of XOMA traded up $0.32 during trading hours on Tuesday, reaching $32.06. 45,428 shares of the stock traded hands, compared to its average volume of 39,901. XOMA Royalty has a 52 week low of $18.35 and a 52 week high of $35.00. The company has a market cap of $387.61 million, a price-to-earnings ratio of -20.68 and a beta of 1.00. The stock has a fifty day simple moving average of $26.68 and a 200 day simple moving average of $24.41. The company has a current ratio of 4.88, a quick ratio of 4.88 and a debt-to-equity ratio of 1.41.

Hedge Funds Weigh In On XOMA Royalty

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Tower Research Capital LLC TRC increased its position in shares of XOMA Royalty by 203.1% during the second quarter. Tower Research Capital LLC TRC now owns 2,273 shares of the biotechnology company's stock valued at $57,000 after acquiring an additional 1,523 shares during the last quarter. JPMorgan Chase & Co. grew its stake in XOMA Royalty by 13.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 4,440 shares of the biotechnology company's stock valued at $112,000 after purchasing an additional 543 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of XOMA Royalty during the 2nd quarter valued at $116,000. Rhumbline Advisers raised its stake in shares of XOMA Royalty by 18.0% during the 2nd quarter. Rhumbline Advisers now owns 13,249 shares of the biotechnology company's stock worth $334,000 after purchasing an additional 2,019 shares during the period. Finally, Marshall Wace LLP boosted its holdings in shares of XOMA Royalty by 12.2% in the 2nd quarter. Marshall Wace LLP now owns 16,308 shares of the biotechnology company's stock worth $411,000 after buying an additional 1,775 shares during the last quarter. Hedge funds and other institutional investors own 95.92% of the company's stock.

Analyst Ratings Changes

XOMA has been the topic of a number of research reports. Zacks Research raised XOMA Royalty to a "hold" rating in a research note on Tuesday, August 12th. Wall Street Zen upgraded XOMA Royalty from a "hold" rating to a "buy" rating in a report on Monday, August 11th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $104.00 price objective on shares of XOMA Royalty in a research note on Wednesday, May 28th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $69.50.

About XOMA Royalty

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.