Xoma price target raised to $123 from $117 at H.C. Wainwright

H.C. Wainwright raised the firm’s price target on Xoma (XOMA) to $123 from $117 and keeps a Buy rating on the shares after the company acquired Pulmokine and its interest in seralutinib, in development for pulmonary arterial hypertension. The addition of seralutinib to Xoma’s “broad” royalty base represents the second whole company acquisition in 2024, the analyst tells investors in a research note. The firm says the size of Xoma royalty pipeline “explodes with another boost to” its confidence to the company’s “deal making creativity.”