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

AbCellera Biologics (NASDAQ:ABCL) released its quarterly earnings results on Tuesday. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $9.95 million during the quarter, compared to analysts’ expectations of $10.73 million. During the same quarter in the prior year, the company earned ($0.14) earnings per share. The business’s quarterly revenue was down 18.4% compared to the same quarter last year.

AbCellera Biologics Price Performance

Shares of NASDAQ:ABCL traded up $0.11 on Thursday, hitting $3.95. The company’s stock had a trading volume of 1,019,552 shares, compared to its average volume of 1,392,261. AbCellera Biologics has a 1 year low of $3.62 and a 1 year high of $8.05. The company has a market capitalization of $1.16 billion, a PE ratio of -7.38 and a beta of 0.42. The company has a 50-day simple moving average of $4.38 and a 200 day simple moving average of $4.78.

Wall Street Analysts Forecast Growth

ABCL has been the topic of several analyst reports. Stifel Nicolaus dropped their price target on shares of AbCellera Biologics from $21.00 to $17.00 and set a “buy” rating on the stock in a research report on Wednesday, February 21st. KeyCorp dropped their price target on AbCellera Biologics from $8.00 to $7.00 and set an “overweight” rating for the company in a research note on Wednesday. Finally, Benchmark upgraded AbCellera Biologics from a “hold” rating to a “buy” rating and set a $9.00 price target on the stock in a research note on Thursday, February 22nd. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, AbCellera Biologics has a consensus rating of “Buy” and a consensus 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.