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

AbCellera Biologics (NASDAQ:ABCL) issued its quarterly earnings results on Tuesday. The company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.02, Briefing.com reports. AbCellera Biologics had a negative return on equity of 12.36% and a negative net margin of 384.99%. The company had revenue of $9.95 million during the quarter, compared to the consensus estimate of $10.73 million. During the same period last year, the business posted ($0.14) earnings per share. AbCellera Biologics’s revenue was down 18.4% on a year-over-year basis.

AbCellera Biologics Trading Down 5.0 %

AbCellera Biologics stock opened at $3.84 on Thursday. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of -7.38 and a beta of 0.42. The firm has a 50 day simple moving average of $4.38 and a 200 day simple moving average of $4.78. AbCellera Biologics has a 1-year low of $3.62 and a 1-year high of $8.05.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on ABCL shares. KeyCorp cut their price target on shares of AbCellera Biologics from $8.00 to $7.00 and set an “overweight” rating on the stock in a report on Wednesday. Benchmark raised shares of AbCellera Biologics from a “hold” rating to a “buy” rating and set a $9.00 target price for the company in a research report on Thursday, February 22nd. Finally, Stifel Nicolaus lowered their price target on shares of AbCellera Biologics from $21.00 to $17.00 and set a “buy” rating on the stock in a report on Wednesday, February 21st. Seven research analysts have rated the stock with a buy rating, According to MarketBeat.com, AbCellera Biologics currently has an average rating of “Buy” and an average target price of $16.17.

AbCellera Biologics Company Profile

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.