AbCellera Biologics Inc. (NASDAQ:ABCL) Given Consensus Recommendation of “Buy” by Brokerages

Shares of AbCellera Biologics Inc. (NASDAQ:ABCLGet Rating) have earned an average rating of “Buy” from the seven research firms that are covering the company, Marketbeat.com reports. Six research analysts have rated the stock with a buy recommendation. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $24.70.

A number of equities analysts recently commented on ABCL shares. Zacks Investment Research raised shares of AbCellera Biologics from a “hold” rating to a “buy” rating and set a $8.50 price target for the company in a research note on Monday, May 2nd. Piper Sandler lowered their price objective on shares of AbCellera Biologics from $33.00 to $28.00 in a research report on Friday, February 25th. Credit Suisse Group boosted their price objective on shares of AbCellera Biologics from $39.00 to $40.00 and gave the company an “outperform” rating in a research report on Friday, February 25th. Finally, SVB Leerink lowered their price objective on shares of AbCellera Biologics from $25.00 to $20.00 and set an “outperform” rating for the company in a research report on Friday, February 25th.

Shares of NASDAQ:ABCL opened at $7.44 on Friday. AbCellera Biologics has a 52 week low of $7.06 and a 52 week high of $36.05. The stock has a market capitalization of $2.12 billion, a P/E ratio of 15.83 and a beta of -0.27. The firm has a fifty day simple moving average of $8.74 and a two-hundred day simple moving average of $11.35.

AbCellera Biologics (NASDAQ:ABCLGet Rating) last released its quarterly earnings results on Thursday, February 24th. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.02). The company had revenue of $139.30 million for the quarter, compared to analysts’ expectations of $122.05 million. During the same period in the previous year, the company posted $0.37 earnings per share. The company’s revenue for the quarter was down 33.0% compared to the same quarter last year. On average, equities research analysts forecast that AbCellera Biologics will post 0.46 earnings per share for the current year.

In other AbCellera Biologics news, COO Veronique Lecault purchased 230,789 shares of AbCellera Biologics stock in a transaction dated Monday, February 28th. The stock was acquired at an average price of $8.66 per share, for a total transaction of $1,998,632.74. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John S. Montalbano acquired 20,000 shares of AbCellera Biologics stock in a transaction that occurred on Tuesday, March 1st. The shares were purchased at an average price of $9.05 per share, with a total value of $181,000.00. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 260,789 shares of company stock valued at $2,265,033. Company insiders own 45.80% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of ABCL. Spire Wealth Management bought a new position in shares of AbCellera Biologics during the 4th quarter worth approximately $29,000. Evoke Wealth LLC raised its stake in shares of AbCellera Biologics by 280.3% during the 3rd quarter. Evoke Wealth LLC now owns 2,985 shares of the company’s stock worth $59,000 after acquiring an additional 2,200 shares in the last quarter. Bank of America Corp DE raised its stake in shares of AbCellera Biologics by 67.9% during the 4th quarter. Bank of America Corp DE now owns 4,108 shares of the company’s stock worth $59,000 after acquiring an additional 1,661 shares in the last quarter. Eagle Bay Advisors LLC grew its position in AbCellera Biologics by 72.2% during the 3rd quarter. Eagle Bay Advisors LLC now owns 3,100 shares of the company’s stock worth $62,000 after purchasing an additional 1,300 shares during the last quarter. Finally, Gryphon Financial Partners LLC purchased a new stake in AbCellera Biologics during the 1st quarter worth approximately $102,000. Hedge funds and other institutional investors own 39.58% of the company’s stock.

AbCellera Biologics Company Profile (Get Rating)

AbCellera Biologics Inc develops antibody discovery platform. Its full-stack, artificial intelligence-powered antibody discovery platform searches and analyzes the database of natural immune systems to find antibodies that could be developed as drugs. As of December 31, 2021, the company had 156 discovery programs that are either completed, in progress, or under contract with 36 partners.

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Analyst Recommendations for AbCellera Biologics (NASDAQ:ABCL)

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