On Thursday, Stifel, a financial services firm, upgraded Oxford Biomedica shares from Hold to Buy, while also increasing the price target to GBP3.00 from the previous GBP2.80. Oxford Biomedica, listed on the London Stock Exchange as OXB:LN and over-the-counter as OXBDF, is recognized for its proficiency in the cell and gene therapy sector, particularly as a viral vector manufacturer.
The upgrade reflects Stifel's view that Oxford Biomedica's established presence as a contract development and manufacturing organization (CDMO) positions it well within the rapidly expanding cell and gene therapy market.
The firm acknowledges Oxford Biomedica's strong intellectual property, expertise, and manufacturing capabilities as key advantages that could allow the company to secure a substantial share of the outsourced viral vector manufacturing market in the foreseeable future.
Stifel's optimism is further bolstered by findings from a recent bioprocess survey, which supports a positive mid-to-long term outlook for Oxford Biomedica. Despite acknowledging the challenges faced by the company in the last year and a half, Stifel suggests that the current market valuation does not fully recognize Oxford Biomedica's potential, prompting the upgrade in the stock's rating and target price.
The new target price of GBP3.00 represents Stifel's confidence in Oxford Biomedica's potential to grow and succeed in the competitive field of cell and gene therapy manufacturing. The firm's positive stance is a sign of expected growth and value in Oxford Biomedica's business operations and market position.
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