Market Overview

Wedbush See 470% Upside At Xoma

  • XOMA Corp (NASDAQ: XOMA) shares are down 8 percent since October 20, hovering close to the $1 mark for the last 5 trading days.
  • Wedbush’s Liana Moussatos maintained an Outperform rating on the company, with a price target of $6.
  • Top-line data from Phase 2 POC trial of Xoma 358 in congenital hyperinsulinism and post-bariatric surgery hyperinsulinism can be expected in 2016, Moussatos mentioned.

Xoma announced the initiation of its Phase 2 proof of concept trial of XOMA 358, its monoclonal ab targeting the insulin receptor, in patients with congenital hyperinsulinism, or CHI. Analyst Liana Moussatos expects top-line results from this trial to be revealed in 2016.

“Based on results from the Phase 1 study in which treatment with XOMA 358 resulted in a dose–dependent increase in post-meal glucose, decrease in insulin signaling, and prevention of hypoglycemia after intravenous insulin administration, we believe the study could readout positive results,” Moussatos wrote.

The analyst expects XOMA 358 to be launched in 2019 and estimates peak sales of about $500 million in congenital hyperinsulinism and post-bariatric surgery hyperinsulinism.

There are about 2.8K individuals with congenital hyperinsulinism and approximately 175K individuals with post-bariatric surgery hyperinsulinism that could be potentially treated with XOMA 358, if approved, the Wedbush report stated.

Moussatos estimates a blended peak penetration of 39 percent for congenital hyperinsulinism and 42 percent for post-bariatric surgery hyperinsulinism. Given these estimates and annual pricing of about $70-$100K, XOMA 358 could reach worldwide peak sales of more than $500 million for Xoma.

Latest Ratings for XOMA

Oct 2017H.C. WainwrightAssumesBuy
Sep 2017WedbushUpgradesNeutralOutperform
Jun 2017H.C. WainwrightInitiates Coverage OnBuy

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Posted-In: Liana Moussatos WedbushAnalyst Color Long Ideas Reiteration Analyst Ratings Trading Ideas


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