Wedbush Downgrades XOMA, Ltd. (XOMA) to Neutral
- Dow opens at record high led by oil, bank stocks
- Oil tops $55 for first time in 16 months as OPEC deal fuels buying
- Consolidated Communications (CNSL) to Acquire FairPoint Communications (FRP) in $1.5B Deal
- Wall St. stock futures fall after Italy referendum
- Pre-Open Stock Movers 12/05: (FRP) (GMED) (CHK) Higher; (CERC) (HDSN) (MRVL) Lower (more...)
Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk Free Trial here.
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.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: Goldman Sachs Downgrades Marvell (MRVL) to Sell
- Pivotal Research Downgrades Kroger (KR) to Hold
- MKM Partners Downgrades InterContinental Hotels Group (IHG) to Neutral
Create E-mail Alert Related CategoriesAnalyst PT Change, Downgrades
Related EntitiesLiana Moussatos
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!