Brokerages Expect XOMA Corporation (XOMA) Will Announce Quarterly Sales of $1.61 Million
Brokerages expect XOMA Corporation (NASDAQ:XOMA) to post sales of $1.61 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for XOMA Corporation’s earnings. The lowest sales estimate is $900,000.00 and the highest is $2.33 million. XOMA Corporation reported sales of $520,000.00 during the same quarter last year, which would suggest a positive year-over-year growth rate of 209.6%. The firm is expected to report its next quarterly earnings results on Thursday, March 15th.
According to Zacks, analysts expect that XOMA Corporation will report full year sales of $1.61 million for the current fiscal year, with estimates ranging from $13.22 million to $49.70 million. For the next year, analysts forecast that the business will report sales of $14.41 million per share, with estimates ranging from $4.63 million to $24.20 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for XOMA Corporation.
XOMA has been the topic of several recent research reports. Zacks Investment Research raised XOMA Corporation from a “hold” rating to a “strong-buy” rating and set a $33.00 price objective on the stock in a report on Friday, November 10th. Wedbush raised XOMA Corporation from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $9.00 to $19.00 in a report on Tuesday, September 5th. Finally, HC Wainwright reissued a “buy” rating and set a $38.00 price objective on shares of XOMA Corporation in a report on Tuesday, November 7th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $30.00.
In other XOMA Corporation news, SVP Thomas M. Burns sold 22,222 shares of XOMA Corporation stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $28.69, for a total transaction of $637,549.18. Following the transaction, the senior vice president now directly owns 13,538 shares of the company’s stock, valued at approximately $388,405.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO James R. Neal sold 46,296 shares of XOMA Corporation stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $28.24, for a total value of $1,307,399.04. The disclosure for this sale can be found here. Insiders have sold a total of 87,069 shares of company stock worth $2,517,993 over the last ninety days. Company insiders own 3.02% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in XOMA. EAM Investors LLC acquired a new position in XOMA Corporation during the 3rd quarter worth about $835,000. OxFORD Asset Management LLP acquired a new position in XOMA Corporation during the 3rd quarter worth about $543,000. Finally, California Public Employees Retirement System lifted its holdings in XOMA Corporation by 95.5% during the 1st quarter. California Public Employees Retirement System now owns 21,780 shares of the biotechnology company’s stock worth $123,000 after buying an additional 10,640 shares during the period. 31.55% of the stock is currently owned by hedge funds and other institutional investors.
About XOMA Corporation
XOMA Corporation is a development-stage biotechnology company. The Company focuses on the discovery and development of monoclonal antibody-based therapeutics. It has five products in its endocrine portfolio, two of which are developed as part of its XOMA Metabolism (XMet) platform. Its products include XOMA 358, XOMA 129, XOMA 213 and Gevokizumab.
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