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

AbCellera Biologics (NASDAQ:ABCL) posted its earnings results on Tuesday. The company reported ($0.14) earnings per share (EPS) 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 firm had revenue of $9.95 million during the quarter, compared to analysts’ expectations of $10.73 million. During the same period in the previous year, the business posted ($0.14) EPS. The business’s revenue was down 18.4% compared to the same quarter last year.

AbCellera Biologics Stock Down 3.0 %

NASDAQ:ABCL traded down $0.12 during trading hours on Wednesday, reaching $3.92. 238,834 shares of the stock were exchanged, compared to its average volume of 1,384,805. AbCellera Biologics has a twelve month low of $3.62 and a twelve month high of $8.05. The company has a market capitalization of $1.15 billion, a price-to-earnings ratio of -7.77 and a beta of 0.42. The business has a 50-day moving average of $4.43 and a two-hundred day moving average of $4.79.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on ABCL shares. Benchmark raised shares of AbCellera Biologics from a “hold” rating to a “buy” rating and set a $9.00 price target for the company in a research report on Thursday, February 22nd. Stifel Nicolaus decreased their price objective on 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 analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $16.00.

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.