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

AbCellera Biologics (NASDAQ:ABCL) announced its quarterly earnings results on Tuesday. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate 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 business 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 company earned ($0.14) earnings per share. The company’s quarterly revenue was down 18.4% on a year-over-year basis.

AbCellera Biologics Stock Up 2.6 %

ABCL traded up $0.10 on Thursday, hitting $3.94. The company’s stock had a trading volume of 300,097 shares, compared to its average volume of 1,384,322. AbCellera Biologics has a 12 month low of $3.62 and a 12 month high of $8.05. The firm has a market cap of $1.16 billion, a P/E ratio of -7.38 and a beta of 0.42. The company’s 50 day simple moving average is $4.38 and its 200-day simple moving average is $4.78.

Wall Street Analysts Forecast Growth

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 report on Thursday, February 22nd. 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 report on Wednesday, February 21st. Finally, KeyCorp dropped their price objective on AbCellera Biologics from $8.00 to $7.00 and set an “overweight” rating on the stock in a research note on Wednesday. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus 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.