Analyst Joseph Pantginis from H.C. Wainwright reiterated a Buy rating on Xoma (XOMA – Research Report) and keeping the price target at $104.00.
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Joseph Pantginis has given his Buy rating due to a combination of factors including XOMA’s strategic expansion of its royalty opportunity for mezagitamab. By acquiring BioInvent’s stake, XOMA has increased its potential royalty rate from 4% to an estimated 5.5%, which enhances the company’s future revenue prospects.
Pantginis also highlights mezagitamab’s differentiated mechanism of action as a key factor in its potential commercial success. This anti-CD38 antibody could address significant unmet needs in conditions like immune thrombocytopenia and IgA Nephropathy, offering a disease-modifying approach that may capture strong market share. The promising Phase 1 data further supports its potential impact, making it a valuable asset in XOMA’s portfolio.
In another report released on May 15, Leerink Partners also maintained a Buy rating on the stock with a $55.00 price target.
Based on the recent corporate insider activity of 19 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of XOMA in relation to earlier this year.