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XOMA price target raised to $10 from $8 at Canaccord

Canaccord raised its price target for XOMA shares to $10 from $8 despite the erosive osteoarthritis of the hand trial failure. The firm said the setting was never part of its model and that its raised target reflects the pyoderma gangrenosum data. Canaccord reiterates a Buy rating on XOMA.