UPDATE: Credit Suisse Initiates XOMA Corporation at Outperform on Upside Potential

Credit Suisse initiated coverage on XOMA Corporation (NASDAQ: XOMA) with an Outperform rating and a $4 price target.

Credit Suisse commented, "Xoma has recently refocused its efforts and bolstered its balance sheet to advance the development of gevokizumab for multiple indications. Retained marketing rights, a well-designed clinical program, and multiple data readouts in the next 12 months provide for upside potential, although with speculative risk."

XOMA Corporation closed at $2.67 on Monday.

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