OmniAb initiated with an Outperform at Credit Suisse

Credit Suisse analyst Tiago Fauth initiated coverage of OmniAb with an Outperform rating and $13 price target. The analyst expects the company’s "flexibility and diversity of the multispecies platform" to drive growth. At the current valuation, the market is assigning value to some of the 25 clinical/approved programs but not to the company’s remaining 257 preclinical programs, as there is no information on any of these programs, Fauth tells investors in a research note.