AbCellera Biologics (NASDAQ:ABCL) Posts Earnings Results, Beats Estimates By $0.02 EPS

AbCellera Biologics (NASDAQ:ABCL) issued its quarterly earnings data on Tuesday. The company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.02, Briefing.com reports. AbCellera Biologics had a negative net margin of 384.99% and a negative return on equity of 12.36%. The firm had revenue of $9.95 million for the quarter, compared to analyst estimates of $10.73 million. During the same quarter in the prior year, the firm earned ($0.14) EPS. The company’s revenue was down 18.4% on a year-over-year basis.

AbCellera Biologics Trading Up 2.9 %

NASDAQ:ABCL opened at $3.95 on Friday. The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of -7.60 and a beta of 0.42. AbCellera Biologics has a 1-year low of $3.62 and a 1-year high of $8.05. The business’s 50-day moving average price is $4.38 and its two-hundred day moving average price is $4.78.

Wall Street Analysts Forecast Growth

ABCL has been the subject of a number of research reports. Stifel Nicolaus lowered their price target on shares of AbCellera Biologics from $21.00 to $17.00 and set a “buy” rating for the company in a report on Wednesday, February 21st. Benchmark raised AbCellera Biologics from a “hold” rating to a “buy” rating and set a $9.00 target price for the company in a research note on Thursday, February 22nd. Finally, KeyCorp decreased their price target on AbCellera Biologics from $8.00 to $7.00 and set an “overweight” rating on the stock in a report on Wednesday. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target 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.