FY2027 Earnings Forecast for OmniAb Issued By HC Wainwright

Key Points

• HC Wainwright cut OmniAb’s FY2027 EPS forecast to a loss of $0.24 per share from $0.18 previously, while maintaining a Buy rating and an $11 price target. The firm also forecasts a narrower loss of $0.01 per share for FY2029.
• OmniAb’s latest quarterly results exceeded expectations, with an EPS loss of $0.12 versus the $0.13 consensus estimate and revenue of $3.99 million versus estimates of $3.49 million.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and an $11.50 target price; institutional investors own approximately 72.1% of the company.

OmniAb, Inc. (NASDAQ:OABI - Free Report) - Equities research analysts at HC Wainwright dropped their FY2027 EPS estimates for OmniAb in a report issued on Friday, October 30th. HC Wainwright analyst J. Pantginis now expects that the company will earn ($0.24) per share for the year, down from their prior forecast of ($0.18). HC Wainwright has a "Buy" rating and a $11.00 price target on the stock. The consensus estimate for OmniAb's current full-year earnings is ($0.35) per share. HC Wainwright also issued estimates for OmniAb's FY2029 earnings at ($0.01) EPS.

Several other brokerages also recently weighed in on OABI. Weiss Ratings upgraded OmniAb from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Thursday, August 20th. Leerink Partners increased their price target on OmniAb from $10.00 to $12.00 and gave the company an "outperform" rating in a research note on Wednesday, October 7th. Three investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, OmniAb has an average rating of "Moderate Buy" and a consensus target price of $11.50.

OmniAb Price Performance

OmniAb stock opened at $5.09 on Tuesday. The stock has a market capitalization of $736.93 million, a price-to-earnings ratio of -14.97 and a beta of 0.60. OmniAb has a 1-year low of $1.30 and a 1-year high of $5.43. The business has a fifty day moving average price of $4.67 and a 200-day moving average price of $2.72.

OmniAb (NASDAQ:OABI - Get Free Report) last released its quarterly earnings results on Friday, October 30th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.01. OmniAb had a negative net margin of 115.12% and a negative return on equity of 16.59%. The business had revenue of $3.99 million for the quarter, compared to analyst estimates of $3.49 million.

Institutional Investors Weigh In On OmniAb

A number of institutional investors and hedge funds have recently modified their holdings of the company. China Universal Asset Management Co. Ltd. boosted its holdings in shares of OmniAb by 15.0% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 26,528 shares of the company's stock valued at $126,000 after acquiring an additional 3,456 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of OmniAb during the third quarter worth $37,000. Legal & General Group Plc purchased a new position in shares of OmniAb during the second quarter worth $28,000. State of Wyoming lifted its position in OmniAb by 101.7% during the first quarter. State of Wyoming now owns 24,694 shares of the company's stock valued at $39,000 after purchasing an additional 12,451 shares during the period. Finally, Canada Pension Plan Investment Board acquired a new position in OmniAb during the second quarter valued at $37,000. Institutional investors and hedge funds own 72.08% of the company's stock.

About OmniAb

OmniAb, Inc is a biotechnology company that develops and licenses antibody discovery technologies for use in drug research and development. Its platform is designed to help biopharmaceutical companies generate fully human and species-diverse antibodies that can be evaluated as potential treatments for a range of diseases.

The company's technology portfolio includes genetically engineered animal platforms, such as OmniRat, OmniMouse and OmniChicken, which are used to produce antibody candidates against challenging biological targets.

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