OmniAb price target lowered to $7 from $10 at Craig-Hallum

Craig-Hallum lowered the firm’s price target on OmniAb (OABI) to $7 from $10 and keeps a Buy rating on the shares. The firm notes the company reported several positive developments this quarter, driven by strong business momentum and a growing network of 104 active partners. Additionally, Craig-Hallum believes that the launch of OmniUltra, following last quarter’s introduction of the xPloration Partner Access Program, should facilitate the development of new classes of biologically derived peptide therapeutics and this innovation will drive further partnerships.