AbCellera Biologics (NASDAQ:ABCL) Given New $15.00 Price Target at StoneX

AbCellera Biologics (NASDAQ:ABCL) had its price target upped by StoneX from $11.00 to $15.00 in a research note issued to investors on Wednesday,Benzinga reports. StoneX currently has a buy rating on the stock.

Other analysts have also issued reports about the company. Stifel Nicolaus lifted their price target on AbCellera Biologics from $9.00 to $14.00 and gave the company a “buy” rating in a research note on Tuesday. Jefferies Financial Group initiated coverage on AbCellera Biologics in a research report on Friday, October 30th. They set a “buy” rating and a $21.00 target price on the stock. Cantor Fitzgerald lifted their price target on shares of AbCellera Biologics from $11.00 to $12.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Truist Financial increased their price target on AbCellera Biologics from $12.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. Finally, JPMorgan Chase & Co. assumed coverage on shares of AbCellera Biologics in a report on Tuesday, September 29th. They issued an “overweight” rating and a $17.00 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $16.20.

AbCellera Biologics Stock Performance

ABCL opened at $11.95 on Wednesday. The company has a market capitalization of $3.66 billion, a P/E ratio of -24.90 and a beta of 1.59. AbCellera Biologics has a fifty-two week low of $2.74 and a fifty-two week high of $15.02. The stock has a fifty day moving average of $12.33 and a 200-day moving average of $7.16.

AbCellera Biologics (NASDAQ:ABCL) last released its earnings results on Monday, November 9th. The company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.17) by $0.04. AbCellera Biologics had a negative net margin of 218.54% and a negative return on equity of 15.35%. The firm had revenue of $10.64 million for the quarter, compared to analyst estimates of $8.41 million. During the same period last year, the firm earned ($0.19) EPS. On average, equities research analysts predict that AbCellera Biologics will post -0.69 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AbCellera Biologics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE bought a new stake in AbCellera Biologics in the second quarter worth $48,211,000. BlackRock Inc. purchased a new position in shares of AbCellera Biologics in the second quarter worth about $29,872,000. Pictet Asset Management Holding SA bought a new stake in shares of AbCellera Biologics in the 3rd quarter valued at about $4,089,000. Voya Investment Management LLC purchased a new stake in AbCellera Biologics during the 3rd quarter valued at about $2,743,000. Finally, HighTower Advisors LLC grew its position in AbCellera Biologics by 24.7% during the 3rd quarter. HighTower Advisors LLC now owns 134,631 shares of the company’s stock worth $1,964,000 after acquiring an additional 26,698 shares during the last quarter. Hedge funds and other institutional investors own 61.42% of the company’s stock.

AbCellera Biologics Company Profile

AbCellera Biologics Inc. is a biotechnology company headquartered in Vancouver, Canada. It discovers and develops antibody-based medicines, using laboratory and computational tools to identify and optimize antibodies that may be developed into treatments for disease. The company works with pharmaceutical and biotechnology partners on antibody discovery and drug development, while also advancing a portfolio of its own therapeutic candidates. Its work spans early-stage research through preclinical and clinical development, with programs focused on areas including cancer and immune-related diseases.