Wedbush Downgrades XOMA, Ltd. (XOMA) to Neutral
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Wedbush downgraded XOMA, Ltd. (NASDAQ: XOMA) from Outperform to Neutral with a price target of $14.00 (from $17.00), citing near-term financing overhang.
Analyst Liana Moussatos commented, "Despite positive early clinical results for XOMA 358 in congenital hyperinsulinism (CHI) and an anticipated $10 million milestone payment and potential for other non-dilutive funding in the coming months, we are downgrading to NEUTRAL in front of an anticipated dilutive financing before cash runway runs out in Q2 2017. The anticipated dilution also reduced our price target."
Shares of XOMA, Ltd. closed at $6.58 yesterday.
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