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Actionable news in SGMO: Sangamo BioSciences, Inc.,

Wedbush Biotech Insights: XOMA Corp (XOMA), Sangamo Biosciences, Inc. (SGMO)


Liana Moussatos of Wedbush rates stocks in the biotechnology sector and is one of the top 50 analysts rated on TipRanks. Today, Moussatos reiterated ratings for the biotechnology companies XOMA Corp (NASDAQ:XOMA) and Sangamo Biosciences, Inc. (NASDAQ:SGMO). The analyst reflects on XOMA’s recent agreement with Novo Nordisk, and Sangamo’s Investigational New Drug (IND) application, which has been approved by the FDA.


In a research report published Wednesday, Moussatos reiterated an Outperform rating on shares of Xoma, with a $6.00 price target, after the company announced a license agreement with Novo Nordisk for the XMetA antibodies for diabetes.

Moussatos noted, “We consider this event to be positive as it provides nondilutive financing for the company while allowing the XMetA program to be developed by one the industry leaders in diabetes, Novo Nordisk. According to the agreement, Novo...