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

Credit Suisse initiated coverage on XOMA Corporation

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.