H.C. Wainwright analyst Joseph Pantginis maintained a Buy rating on OmniAb (OABI – Research Report) today and set a price target of $11.00.
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Joseph Pantginis has given his Buy rating due to a combination of factors that highlight OmniAb’s promising growth potential and strategic advancements. A key element in his assessment is the launch of OmniAb’s xPloration Partner Access Program, which introduces a new revenue stream by offering a high-throughput single B-cell screening instrument to partners. This platform, which integrates machine learning and artificial intelligence, addresses significant challenges in antibody discovery and offers a more efficient alternative to traditional methods.
Additionally, the company’s financial position appears stable, with $43.6 million in cash, providing a runway for ongoing operations. The expansion of OmniAb’s partnered programs, now totaling 95 active partners and 378 active programs, further supports the Buy rating. These developments, combined with the innovative xPloration platform, underscore the company’s potential for revenue growth and market expansion, making it an attractive investment opportunity.
In another report released yesterday, TD Cowen also maintained a Buy rating on the stock with a $4.00 price target.