AbCellera Biologics (NASDAQ:ABCL – Get Free Report) posted its earnings results on Tuesday. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.02, Briefing.com reports. The firm had revenue of $9.95 million for the quarter, compared to analyst estimates of $10.73 million. AbCellera Biologics had a negative net margin of 384.99% and a negative return on equity of 12.36%. The company’s revenue for the quarter was down 18.4% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.14) EPS.
AbCellera Biologics Trading Up 2.9 %
AbCellera Biologics stock opened at $3.95 on Friday. The business’s 50 day simple moving average is $4.38 and its 200 day simple moving average is $4.78. AbCellera Biologics has a 12 month low of $3.62 and a 12 month high of $8.05. The company has a market cap of $1.16 billion, a price-to-earnings ratio of -7.60 and a beta of 0.42.
Analysts Set New Price Targets
Several analysts have recently commented on ABCL shares. Stifel Nicolaus reduced their price objective on shares of AbCellera Biologics from $21.00 to $17.00 and set a “buy” rating for the company in a research report on Wednesday, February 21st. KeyCorp reduced their price target on shares of AbCellera Biologics from $8.00 to $7.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, Benchmark raised AbCellera Biologics from a “hold” rating to a “buy” rating and set a $9.00 target price on the stock in a research report on Thursday, February 22nd. Seven research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $16.17.
About AbCellera Biologics
AbCellera Biologics Inc builds an engine for antibody drug discovery and development. Its engine discovers antibodies from natural immune responses, which are pre-enriched for antibodies. The company's preclinical products are ABCL635 for metabolic and endocrine conditions; and ABCL575 for atopic dermatitis.
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