LONDON (ShareCast) - (Sharecast News) - Analysts at Liberum hiked their target price on gene and cell therapy company Oxford BioMedica from £8.60 per share to £10.90 on Tuesday, citing demand at its new OxBox manufacturing facility.

Liberum said Oxford Biomedica had made "enormous progress" since its initiation of coverage in 2019, highlighting the completion of the new OxBox manufacturing facility for having already unlocked demand for future capacity.

The broker stated that with Oxford Biomedica now working in collaboration with the Jenner Institute consortium as a manufacturing partner for its potential Covid-19 vaccine, while it was "too early to estimate its potential", the move still represented a 12-month upside option.

Liberum also pointed out that late last year, Novartis extended its vector collaboration with the group, and in March, Juno Therapeutics chose OXB as its vector partner.

In addition to upping its price target on the group, Liberum also reiterated its 'buy' rating on OXB.

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