RBC Capital lowered the firm’s price target on OmniAb (OABI) to $4 from $7 and keeps an Outperform rating on the shares. The company provided lower than expected FY25 revenue guidance, though the outlook is prudent and de-risks lumpy contributions due to its partner’s program progression, the analyst tells investors in a research note. RBC adds that its takeaways from OmniAb Q4 include continued program growth with healthy end markets and its view that FY25 revenue guide is achievable with lower cash spend.
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