XOMA Corporation (XOMA) was a big mover last session with its shares rising nearly 8% on the day. The upside was owing to the company’s announcement that the gevokizumab Phase 3 EYEGUARD-B study, sponsored by its development partner Servier, has reached its target exacerbation event as specified in the study design. 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 volatile price range of $3.32 to $3.44 since May 13.
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 #3 (Hold) while its Earnings ESP is negative.
Investors interested in the biomedical industry may, however, consider Actelion Ltd. (ALIOF) which sports a Zacks Rank #1 (Strong Buy).
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