Image source: © 2025 Krish Capital Pty. Ltd.

Highlights

  • STIFEL Europe has issued a “Buy” rating on Oxford Biomedica PLC (LSE: OXB).

  • The firm set a price target of AUD 12.98 (GBp 559.57), representing a 12.41% upside.

  • The rating follows OXB’s strong H1 2025 performance, with revenues expected between £70 million and £73 million, up 38%-44% year-on-year.

Oxford Biomedica PLC (LSE:OXB), a global cell and gene therapy contract development and manufacturing organisation (CDMO), has been assigned a “Buy” rating from STIFEL Europe analyst James Orsborne, with a price target of AUD 12.98 (equivalent to GBp 559.57). The rating reflects an upside of 12.41% against the current trading price.

The rating comes as Oxford Biomedica reported continued financial and operational momentum during the first half of 2025. For the six months ended 30 June 2025, the company expects revenues of £70–73 million, representing growth of 38%–44% compared with £51 million in H1 2024. The company has reiterated its full-year guidance for revenues of £160–170 million, with operating EBITDA expected to remain in positive territory at low single-digit profitability.

Commercial progress has also been a significant driver for the period. In the first half of 2025, Oxford Biomedica signed new client orders worth £149 million, more than doubling the £56 million signed in H1 2024. As of 30 June 2025, the company’s revenue backlog stood at £222 million.

Additionally, Oxford Biomedica confirmed that more than £165 million of its 2025 revenues are already contracted, compared with £103 million at the same point in 2024. Revenue contributions are expected to be weighted towards the second half of the year, consistent with prior years, as manufacturing activity increases in preparation for client commercial launches.

As of 30 June 2025, Oxford Biomedica reported gross cash reserves of £53.9 million.

Looking ahead, Oxford Biomedica is scheduled to announce its interim H1 2025 results on 23 September 2025. The company has also confirmed plans to host a Capital Markets Day on 15 October 2025, where it is expected to outline further details of its long-term growth strategy, operational progress, and capital allocation priorities.