Analyst Joseph Pantginis of H.C. Wainwright reiterated a Buy rating on OmniAb (OABI – Research Report), with a price target of $11.00.
Joseph Pantginis has given his Buy rating due to a combination of factors that highlight OmniAb’s strategic growth and financial stability. The company reported better-than-expected revenue for the fourth quarter and the full year of 2024, surpassing both Pantginis’s and consensus estimates. Additionally, OmniAb’s cash reserves of $59.4 million are deemed sufficient to support its ongoing operations, providing a solid financial foundation.
Moreover, Pantginis notes the significant progress OmniAb has made in expanding its partnerships and portfolio. The company experienced an 18% year-over-year growth in active programs, with 91 partners and 363 active programs by the end of 2024. This includes 32 company-derived programs in clinical development or commercialization. The increase in license agreements and the entry of new antibodies into clinical trials underscore OmniAb’s commitment to innovation and its potential for value creation, even amid challenging market conditions. These strategic advancements bolster Pantginis’s confidence in OmniAb’s future prospects.
According to TipRanks, Pantginis is an analyst with an average return of -11.4% and a 27.86% success rate. Pantginis covers the Healthcare sector, focusing on stocks such as Cytokinetics, Viking Therapeutics, and VYNE Therapeutics.