OmniAb, the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Joseph Pantginis from H.C. Wainwright reiterated a Buy rating on the stock and has a $11.00 price target.
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Joseph Pantginis has given his Buy rating due to a combination of factors, primarily focusing on the innovative capabilities of OmniAb’s new OmniUltra platform. This platform significantly enhances OmniAb’s discovery capabilities by integrating ultralong CDRH3 antibodies, which are engineered to mimic structures found in cows but expressed in a human framework using a transgenic chicken system. This novel approach allows for the targeting of challenging or highly conserved drug targets, which traditional methods may not effectively address.
Furthermore, the OmniUltra platform is expected to broaden OmniAb’s partnership opportunities and generate additional revenue streams. As more partners utilize this platform, the potential for milestone payments and royalties increases, supporting both near-term service revenue and long-term financial growth. This strategic expansion of OmniAb’s discovery platform and licensing opportunities underpins Pantginis’s positive outlook on the company’s stock performance.
Based on the recent corporate insider activity of 30 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of OABI in relation to earlier this year.