Benchmark Co. analyst Robert Wasserman has maintained their bullish stance on OABI stock, giving a Buy rating on March 18.
Robert Wasserman has given his Buy rating due to a combination of factors that highlight OmniAb’s potential for long-term growth. Despite the company’s 4Q24 earnings falling short of expectations, with revenues at $10.8 million and a net loss of $13.1 million, OmniAb has shown significant progress in its licensing activities. The company signed 10 new license agreements in 2024 and introduced five new antibodies into clinical trials through its partners, indicating a robust pipeline.
Additionally, OmniAb’s strategic partnerships and the launch of OmniHub, a bioinformatics portal, further strengthen its position in the market. The company’s 91 active partners and 363 active programs, including 32 products in clinical development or commercialization, underscore its expansive reach. With anticipated R&D catalysts and regulatory registrations for key products like Batoclimab, Wasserman maintains a positive outlook on OmniAb’s future prospects, justifying the Buy rating despite a lowered price target of $6 due to current revenue challenges.
According to TipRanks, Wasserman is a 2-star analyst with an average return of -0.2% and a 37.32% success rate. Wasserman covers the Healthcare sector, focusing on stocks such as Halozyme, Ligand Pharma, and Integer Holdings.
In another report released on March 18, H.C. Wainwright also reiterated a Buy rating on the stock with a $11.00 price target.