Equities research analysts at Deutsche Bank Aktiengesellschaft have raised their price target for Oxford Biomedica (LON: OXB) from GBX 735 to GBX 800, indicating a potential upside of 7.84% from the company’s current trading price. The revised forecast was detailed in a report released on October 20, 2023, with Deutsche Bank maintaining a “buy” rating on the biopharmaceutical company’s stock.
In a separate analysis, Canaccord Genuity Group reiterated its own “buy” rating for Oxford Biomedica and set a target price of GBX 451 on October 7, 2023. This aligns with positive sentiment from other analysts, as four research firms have rated the stock as a buy, while one has issued a hold rating. According to data from MarketBeat.com, the consensus rating for Oxford Biomedica is “Moderate Buy,” with an average target price of GBX 606.40.
Recent Trading Activity and Insider Transactions
Despite the optimistic forecasts, shares of Oxford Biomedica experienced a slight decline of 1.2% in recent trading. Additionally, an insider transaction has drawn attention, as Heather Preston, a member of the company’s insider group, purchased 6,175 shares at an average price of GBX 593 per share on October 20, 2023. This acquisition amounted to a total investment of approximately £36,617.75. Notably, corporate insiders hold around 34.83% of the company’s stock.
About Oxford Biomedica
Oxford Biomedica (LSE: OXB) is a leading contract development and manufacturing organization (CDMO) specializing in cell and gene therapies. The company, founded over 25 years ago, has established itself as a pioneer in the field, particularly in viral vector development. It collaborates with some of the most innovative pharmaceutical and biotechnology firms globally, providing critical expertise in viral vector manufacturing, including lentivirus, adeno-associated virus (AAV), and adenoviral vectors.
As a firm dedicated to delivering life-changing therapies to patients worldwide, Oxford Biomedica remains at the forefront of advancements in gene therapy, highlighting its commitment to quality and innovation within the industry.
