Stifel Nicolaus Reiterates Buy Rating for AbCellera Biologics (NASDAQ:ABCL)

AbCellera Biologics (NASDAQ:ABCL)‘s stock had its “buy” rating reaffirmed by research analysts at Stifel Nicolaus in a report issued on Tuesday, Benzinga reports. They currently have a $12.00 target price on the stock, down from their prior target price of $14.00. Stifel Nicolaus’ price target would suggest a potential upside of 334.78% from the company’s current price.

Other research analysts also recently issued research reports about the company. Benchmark downgraded AbCellera Biologics from a “buy” rating to a “hold” rating in a report on Tuesday, August 20th. KeyCorp reaffirmed an “overweight” rating and issued a $5.00 price objective (down previously from $7.00) on shares of AbCellera Biologics in a research note on Thursday, July 11th.

AbCellera Biologics Stock Performance

ABCL stock opened at $2.76 on Tuesday. AbCellera Biologics has a fifty-two week low of $2.34 and a fifty-two week high of $6.05. The business’s 50-day moving average is $2.63 and its two-hundred day moving average is $3.05. The company has a market cap of $813.28 million, a price-to-earnings ratio of -4.52 and a beta of 0.35.

AbCellera Biologics (NASDAQ:ABCL) last posted its earnings results on Monday, November 4th. The company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.03). AbCellera Biologics had a negative net margin of 463.77% and a negative return on equity of 13.40%. The firm had revenue of $6.51 million during the quarter, compared to the consensus estimate of $8.95 million. During the same period in the prior year, the company posted ($0.10) EPS. Equities analysts predict that AbCellera Biologics will post -0.55 earnings per share for the current year.

Hedge Funds Weigh In On AbCellera Biologics

Institutional investors have recently added to or reduced their stakes in the company. Arcadia Investment Management Corp MI purchased a new position in AbCellera Biologics during the 3rd quarter valued at approximately $26,000. NBC Securities Inc. lifted its stake in shares of AbCellera Biologics by 56.0% in the 3rd quarter. NBC Securities Inc. now owns 11,420 shares of the company’s stock valued at $29,000 after purchasing an additional 4,100 shares during the last quarter. Evergreen Capital Management LLC bought a new stake in shares of AbCellera Biologics during the 2nd quarter worth approximately $32,000. Ballentine Partners LLC bought a new stake in shares of AbCellera Biologics during the 3rd quarter worth approximately $54,000. Finally, B. Riley Wealth Advisors Inc. raised its position in AbCellera Biologics by 104.8% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 21,500 shares of the company’s stock valued at $64,000 after purchasing an additional 11,000 shares in the last quarter. Hedge funds and other institutional investors own 61.42% of the company’s stock.

AbCellera Biologics Company Profile

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.