AbCellera Biologics (NASDAQ:ABCL) Issues Earnings Results

AbCellera Biologics (NASDAQ:ABCL) released its quarterly earnings data on Tuesday. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.02, Briefing.com reports. The business had revenue of $9.95 million during 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%. AbCellera Biologics’s quarterly revenue was down 18.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.14) EPS.

AbCellera Biologics Stock Down 2.2 %

ABCL traded down $0.09 during trading on Wednesday, reaching $3.95. 224,773 shares of the company’s stock were exchanged, compared to its average volume of 1,384,381. AbCellera Biologics has a fifty-two week low of $3.62 and a fifty-two week high of $8.05. The company has a market capitalization of $1.16 billion, a P/E ratio of -7.77 and a beta of 0.42. The business has a 50 day moving average price of $4.43 and a 200 day moving average price of $4.79.

Analyst Ratings Changes

ABCL has been the subject of a number of analyst reports. Benchmark upgraded shares of AbCellera Biologics from a “hold” rating to a “buy” rating and set a $9.00 price objective for the company in a research note on Thursday, February 22nd. Stifel Nicolaus cut their price target on AbCellera Biologics from $21.00 to $17.00 and set a “buy” rating for the company in a report on Wednesday, February 21st. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, AbCellera Biologics presently has a consensus rating of “Buy” and a consensus target price of $16.00.

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.