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

AbCellera Biologics (NASDAQ:ABCL) announced its earnings results 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 firm had revenue of $9.95 million for the quarter, compared to analyst estimates of $10.73 million. AbCellera Biologics had a negative return on equity of 12.36% and a negative net margin of 384.99%. The business’s revenue was down 18.4% on a year-over-year basis. During the same quarter last year, the firm posted ($0.14) EPS.

AbCellera Biologics Trading Up 2.9 %

Shares of ABCL stock opened at $3.95 on Friday. The firm has a fifty day moving average price of $4.38 and a 200 day moving average price of $4.78. The company has a market cap of $1.16 billion, a P/E ratio of -7.60 and a beta of 0.42. AbCellera Biologics has a 12 month low of $3.62 and a 12 month high of $8.05.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ABCL. KeyCorp lowered their price objective on AbCellera Biologics from $8.00 to $7.00 and set an “overweight” rating on the stock in a report on Wednesday. Benchmark upgraded 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. Finally, Stifel Nicolaus dropped their price objective on shares of AbCellera Biologics from $21.00 to $17.00 and set a “buy” rating for the company in a research note on Wednesday, February 21st. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, AbCellera Biologics currently has a consensus rating of “Buy” and an average price target of $16.17.

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.