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In a challenging market environment, XOMA Corporation’s stock has reached a 52-week low, dipping to $21.43. The biotech firm, known for its innovative therapeutic antibodies, has faced a tumultuous year, with its stock price down 8.84% over the past year. According to InvestingPro analysis, the company maintains impressive gross profit margins of 90.58% and strong liquidity with a current ratio of 7.52. Investors are closely monitoring the company’s performance, as the current price level presents both potential risks and opportunities for those looking to capitalize on the volatility within the biopharmaceutical sector. Wall Street analysts see significant upside potential, with price targets ranging from $55 to $104. As XOMA continues to navigate through the complexities of drug development and commercialization, the market’s response to its strategies and pipeline progress will be critical in determining the stock’s trajectory in the coming months. InvestingPro subscribers have access to 7 additional key insights about XOMA’s financial health and growth prospects.
In other recent news, XOMA Ltd (NASDAQ:XOMA). has been active with several key developments. The company recently announced the acquisition of Pulmokine Inc. and its stake in seralutinib, a drug under development for pulmonary arterial hypertension. This acquisition, valued at $20 million upfront, has led H.C. Wainwright to maintain a Buy rating on XOMA shares and increase the price target to $123. The acquisition is expected to bring low-to-mid single-digit royalties and up to $25 million in milestone payments for XOMA.
Additionally, XOMA’s partner Rezolute (NASDAQ:RZLT) received Breakthrough Therapy Designation from the FDA for their drug candidate ersodetug (RZ358), which could potentially drive a 10%+ revenue growth for XOMA. The company stands to earn high-single to mid-teen percentage royalties if the drug is approved. Meanwhile, H.C. Wainwright has also adjusted its price target for XOMA shares to $104, following the exclusion of iscalimab from their projections, while still maintaining a Buy rating due to XOMA’s robust royalty portfolio. These recent developments highlight XOMA’s strategic moves to expand its portfolio and revenue streams.
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