OmniAb initiated with an Outperform at Cowen

Cowen initiated coverage of OmniAb with an Outperform rating and $10 price target. OmniAb has a pure-play antibody drug discovery platform that is focused and "highly scalable," the analyst tells investors in a research note. The scale of the discovery engine is reflected in the "high-quality partner list and robust program pipeline with attractive downstream economics," says the firm. It has conviction the company can capitalize on its downstream potential.