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

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

AbCellera Biologics Stock Down 1.7 %

Shares of ABCL opened at $4.04 on Wednesday. AbCellera Biologics has a twelve month low of $3.62 and a twelve month high of $8.05. The firm has a 50 day moving average of $4.43 and a 200 day moving average of $4.79. The company has a market capitalization of $1.19 billion, a P/E ratio of -7.77 and a beta of 0.42.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ABCL. Benchmark raised shares of AbCellera Biologics from a “hold” rating to a “buy” rating and set a $9.00 price target on the stock in a research report 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 equities 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.