Oxford Biomedica initiated with a Neutral at JPMorgan

JPMorgan initiated coverage of Oxford Biomedica with a Neutral rating and 495 GBp price target. The analyst anticipates the Cell & Gene therapy vector market to have double-digit growth potential over the medium term, though the company is early in its CDMO transition. The firm’s balanced rating reflects the strong market growth and share gain potential against limited visibility on medium-term plans and some execution risk on the transition from Lenti to AAV vectors, JPMorgan tells investors in a research note.