H.C. Wainwright analyst Joseph Pantginis reiterated a Buy rating on Xoma Corp (XOMA) today and set a price target of $36. The company’s shares closed yesterday at $12.81, close to its 52-week low of $11.88.
Pantginis noted:
“Valuation disconnect stands even in 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). As we describe below, our current valuation is based solely on the Novartis and Rezolute assets. We currently are not including the assets from the Agenus transaction in our valuation and believe they represent potential future upside to the valuation and overall fundamental thesis for XOMA.”
According to TipRanks.com, Pantginis ‘ ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -16.2% and a 27.2% success rate. Pantginis covers the Healthcare sector, focusing on stocks such as Applied Genetic Technologies, Checkpoint Therapeutics Inc, and Strata Skin Sciences Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Xoma Corp with a $36 average price target.
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The company has a one-year high of $37.25 and a one-year low of $11.88. Currently, Xoma Corp has an average volume of 99.37K.
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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.
