XOMA Corp
In the second half of 2015, pharmaceutical company Xoma Corp is expected to announce results from Proof of Concept of gevokizumab in non-infectious anterior scleritis; a painful condition in which the front of the eye becomes red and inflamed. Gevokizumab is a pipeline drug in testing to treat a wide variety of inflammatory conditions.
On July 22, Xoma announced results from the Phase 3 Eyeguard-B trial, testing gevokizumab in patients with Behçet’s disease uveitis; another inflammatory condition of the eye. The study did not reach its primary endpoint, but management remained optimistic, noting that the study revealed other benefits of the pipeline drug.
Wedbush analyst Liana Moussatos currently has an Outperform rating on Xoma. She was not discouraged by the disappointing Phase 3 Eyeguard trial results, noting, “Gevokizumab still holds plenty of value. Moussatos expects data from Eyeguard-A and C to be released by the end of 2015. Moussatos currently has a 42% success rate recommending stocks and a +22.5% average return per recommendation when measured over a one-year horizon and no benchmark.
Out of the six analysts polled by TipRanks in the last three months, Moussatos is bullish on the biopharmaceutical company and the other five are neutral. The average 12-month price target of the company is $1.50, marking a 92.31% potential upside from where the stock last closed.