XOMA, Ltd. (XOMA) PT Lowered to $45 at Leerink Partners

Leerink Partners analyst Jason Zhuang lowered the price target on XOMA, Ltd. (NASDAQ: XOMA) to $45.00 (from $58.00) while maintaining a Outperform rating.

The analyst comments "We’re lowering our PT from $58 to $45, driven by the removal of RZ358 royalty contribution from our model. XOMA’s partner Rezolute (RZLT, Not Rated) announced this morning that RZ358 cHI Ph3 failed to meet its primary or key secondary endpoints. A numerical reduction in weekly hypoglycemia events was observed in the treatment arm, but the result was not statistically significant due to high placebo responses. Notably, the Ph3 trial of RZ358 in tumor hyperinsulinism is still ongoing, with topline results expected in 2H26. Recall that the tHI study is a single-arm, open-label study without a placebo control. But we do not currently assign any value for the RZ358 tHI indication. Beyond RZ358, we anticipate Ojemda (DAWN, Not Rated) EMA approval in 2026 and the seralutinib (GOSS, OP, Schwartz) Ph3 readout in pulmonary arterial hypertension in Feb 2026. Maintain OP rating on XOMA."

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