XOMA Corporation (XOMA) was a big mover last session with its shares surging nearly 21% on the day. The upside was owing to the company’s announcement that XOMA 358, a fully human allosteric monoclonal antibody, has been granted Orphan Drug Designation by the U.S. Food and Drug Administration (FDA) for the treatment of congenital hyperinsulinism (HI). This development led to far more shares changing hands yesterday than in a normal session. The move breaks the recent trend of the company as the stock is now trading above the past one month’s volatile price range of $3.59 to $4.28.
This developer of antibody-based therapeutics has seen no estimate revision in the last 7 days. The Zacks Consensus Estimate hasn’t been in trend either. Yesterday’s rally is encouraging though, so make sure to keep a close watch on this firm in the near future.
XOMA currently has a Zacks Rank #4 (Sell) while its Earnings ESP is negative.
Investors interested in the biomedical industry may, however, consider AMAG Pharmaceuticals, Inc. (AMAG) which sports a Zacks Rank #1 (Strong Buy).
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