Xoma (XOMA – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Joseph Pantginis from H.C. Wainwright reiterated a Buy rating on the stock and has a $123.00 price target.
Joseph Pantginis has given his Buy rating due to a combination of factors that highlight Xoma’s strategic acquisitions and growth potential. The recent acquisition of Pulmokine Inc., which brings the seralutinib asset under Xoma’s umbrella, plays a significant role in this rating. This asset, aimed at treating pulmonary arterial hypertension, adds to Xoma’s expanding royalty portfolio and positions the company to benefit from potential royalties and milestone payments.
Furthermore, the partnership between Gossamer Bio and Chiesi Farmaceutici for the global development of seralutinib enhances its commercial prospects. The promising Phase 2 results and the ongoing Phase 3 study in PAH patients further bolster confidence in the asset’s potential. If approved, the asset could significantly impact the PAH market, providing Xoma with a lucrative opportunity for growth. These strategic moves and the potential high returns from the PAH market underpin Pantginis’s positive outlook on Xoma’s stock.
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Xoma (XOMA) Company Description:
XOMA Corp. engages in the discovery and development of innovative therapeutics derived from 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 Emeryville, CA.
