Xoma price target lowered to $97 from $104 at H.C. Wainwright

H.C. Wainwright analyst Joseph Pantginis lowered the firm’s price target on Xoma (XOMA) to $97 from $104 and keeps a Buy rating on the shares after removing ersodetug from the firm’s projections. Xoma’s downside buffer from its broad set of partnered assets remains intact, even though today’s share weakness reflects the loss of a potential near-term revenue driver in ersodetug, a reaction that appears excessive, the analyst tells investors in a research note. The failed Phase 3 results at partner Rezolute (RZLT) remove a 2027 launch opportunity, but the long-term depth and diversification of Xoma’s portfolio still support a positive outlook, the firm says.