In a report released yesterday, Robert Wasserman from Benchmark Co. maintained a Buy rating on Xoma, with a price target of $50.00.
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Robert Wasserman has given his Buy rating due to a combination of factors, despite the recent setback in Rezolute Bio’s Phase 3 trial with ersodetug. While the trial did not meet its primary and secondary endpoints, the potential for future developments remains, as Rezolute plans to engage with the FDA for further steps regarding the drug.
XOMA’s financial prospects are bolstered by its existing royalty revenue base and a robust pipeline of partnered programs, including ten that are in late-stage trials. These factors contribute to a positive outlook for XOMA, supporting the Buy rating and maintaining a price target of $50.
Wasserman covers the Healthcare sector, focusing on stocks such as Ligand Pharma, Intensity Therapeutics, Inc., and Integer Holdings. According to TipRanks, Wasserman has an average return of 12.2% and a 47.49% success rate on recommended stocks.
In another report released yesterday, H.C. Wainwright also reiterated a Buy rating on the stock with a $97.00 price target.