Roth Capital Assumes Bullish Stance On Xoma; Sees 137% Upside For The Stock
In a research report sent to investors today, Roth Capital analyst Ed Arce assumed coverage on Xoma (NASDAQ:XOMA) shares with a Buy rating and a $9.00 price target, which represents a potential upside of 137% from where the stock is currently trading.
Arce wrote, “We believe data lock is imminent on the ongoing Phase 3 EYEGUARD-B study of gevokizumab in Behçet’s disease uveitis, with top-line data expected around year-end. We anticipate positive results leading to gevokizumab’s first approval by 3Q16. In addition, XOMA plans to initiate a second pivotal program by year end. We see multiple meaningful catalysts in 2015 as the company pursues two ultra orphan indications.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Ed Arce has a total average return of 18.9% and a 36.4% success rate. Arce is ranked #295 out of 3319 analysts.