Stifel Nicolaus Boosts AbCellera Biologics (NASDAQ:ABCL) Price Target to $9.00

AbCellera Biologics (NASDAQ:ABCL) had its target price hoisted by investment analysts at Stifel Nicolaus from $8.00 to $9.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ price target would indicate a potential upside of 29.87% from the company’s current price.

Several other equities research analysts have also weighed in on the company. Benchmark raised AbCellera Biologics from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a research report on Tuesday, July 7th. JonesTrading assumed coverage on shares of AbCellera Biologics in a report on Friday, April 10th. They issued a “buy” rating and a $11.00 price objective on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of AbCellera Biologics in a research report on Friday, July 17th. Cantor Fitzgerald boosted their target price on shares of AbCellera Biologics from $11.00 to $12.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Wall Street Zen cut shares of AbCellera Biologics from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.40.

AbCellera Biologics Stock Up 6.1%

Shares of ABCL stock opened at $6.93 on Thursday. The company has a market cap of $2.12 billion, a P/E ratio of -12.83 and a beta of 1.20. The business has a 50 day moving average of $6.22 and a two-hundred day moving average of $4.69. AbCellera Biologics has a 52 week low of $2.74 and a 52 week high of $8.44.

AbCellera Biologics (NASDAQ:ABCL) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.02). AbCellera Biologics had a negative return on equity of 17.49% and a negative net margin of 248.83%.The company had revenue of $4.05 million for the quarter, compared to analyst estimates of $7.85 million. Analysts expect that AbCellera Biologics will post -0.67 EPS for the current fiscal year.

Institutional Investors Weigh In On AbCellera Biologics

A number of institutional investors and hedge funds have recently modified their holdings of the stock. AssuredPartners Investment Advisors LLC acquired a new position in shares of AbCellera Biologics in the 4th quarter worth $34,000. Engineers Gate Manager LP purchased a new position in AbCellera Biologics in the 4th quarter worth about $38,000. Allworth Financial LP raised its holdings in AbCellera Biologics by 857.0% during the 4th quarter. Allworth Financial LP now owns 11,274 shares of the company’s stock worth $39,000 after buying an additional 10,096 shares during the period. Janney Montgomery Scott LLC acquired a new stake in AbCellera Biologics during the 1st quarter worth about $46,000. Finally, Magnetar Financial LLC purchased a new stake in AbCellera Biologics during the fourth quarter valued at about $49,000. Institutional investors and hedge funds own 61.42% of the company’s stock.

AbCellera Biologics Company Profile

AbCellera Biologics Inc (NASDAQ: ABCL) is a biotechnology company specializing in the discovery and development of therapeutic antibodies. The company’s technology platform integrates single-cell screening, microfluidics, high-throughput sequencing and artificial intelligence to rapidly identify and optimize antibody candidates against a wide range of disease targets. By combining experimental data with machine learning, AbCellera accelerates early-stage drug discovery and improves the efficiency of lead candidate selection.

AbCellera primarily operates through partnerships with pharmaceutical and biotechnology firms, offering its antibody discovery services on a fee-for-service and milestone-driven basis.