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) earnings per share (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 business had revenue of $9.95 million during the quarter, compared to the consensus estimate of $10.73 million. During the same period in the prior year, the firm posted ($0.14) EPS. The firm’s quarterly revenue was down 18.4% compared to the same quarter last year.

AbCellera Biologics Price Performance

Shares of NASDAQ ABCL opened at $3.95 on Friday. The stock has a market capitalization of $1.16 billion, a PE ratio of -7.60 and a beta of 0.42. AbCellera Biologics has a one year low of $3.62 and a one year high of $8.05. The business’s fifty day moving average price is $4.38 and its 200-day moving average price is $4.78.

Analysts Set New Price Targets

A number of brokerages recently commented on ABCL. Stifel Nicolaus decreased their price target on AbCellera Biologics from $21.00 to $17.00 and set a “buy” rating for the company in a research 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 report on Thursday, February 22nd. Finally, 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. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus 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.