Canaccord Genuity Group Reiterates Buy Rating for Oxford Biomedica (LON:OXB)

Key Points

• Canaccord Genuity Group has reiterated a buy rating on Oxford Biomedica (LON: OXB), with a price target of GBX 451, indicating a potential downside of 27.72% from the current stock price.
• Royal Bank of Canada has raised its price target for the company from GBX 800 to GBX 930, giving Oxford Biomedica an "outperform" rating.
• Insider transactions included the sale of 4,563 shares by Dame Kay Davies and the acquisition of 67,000 shares by Roch Doliveux at an average cost of GBX 450.

Oxford Biomedica (LON:OXB - Get Free Report)'s stock had its "buy" rating restated by stock analysts at Canaccord Genuity Group in a research note issued on Tuesday,Digital Look reports. They currently have a GBX 451 price target on the biopharmaceutical company's stock. Canaccord Genuity Group's price target would indicate a potential downside of 27.72% from the company's previous close.

OXB has been the topic of a number of other research reports. Royal Bank Of Canada lifted their price target on shares of Oxford Biomedica from GBX 800 to GBX 930 and gave the stock an "outperform" rating in a report on Tuesday, August 26th. Peel Hunt reaffirmed a "buy" rating and issued a GBX 451 price objective on shares of Oxford Biomedica in a research note on Friday, August 1st. Finally, JPMorgan Chase & Co. lowered their target price on shares of Oxford Biomedica from GBX 490 to GBX 400 and set a "neutral" rating for the company in a research note on Tuesday, July 15th. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of GBX 558.

Oxford Biomedica Price Performance

LON:OXB traded down GBX 13 during mid-day trading on Tuesday, reaching GBX 624. The stock had a trading volume of 323,456 shares, compared to its average volume of 277,565. Oxford Biomedica has a 12 month low of GBX 232.50 and a 12 month high of GBX 656. The stock has a 50-day simple moving average of GBX 538.35 and a two-hundred day simple moving average of GBX 392.65. The company has a debt-to-equity ratio of 166.48, a current ratio of 2.35 and a quick ratio of 1.67. The stock has a market capitalization of £750.09 million, a PE ratio of -1,722.81 and a beta of 1.09.

Insider Transactions at Oxford Biomedica

In other news, insider Dame Kay Davies sold 4,563 shares of the business's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of GBX 500, for a total value of £22,815. Also, insider Roch Doliveux acquired 67,000 shares of the business's stock in a transaction on Friday, August 15th. The stock was acquired at an average cost of GBX 450 per share, for a total transaction of £301,500. Corporate insiders own 41.90% of the company's stock.

About Oxford Biomedica

Oxford Biomedica LSE: OXB is a quality and innovation-led cell and gene therapy CDMO with a mission to enable its clients to deliver life changing therapies to patients around the world. One of the original pioneers in cell and gene therapy, the Company has more than 25 years of experience in viral vectors; the driving force behind the majority of gene therapies.

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