Cantor Fitzgerald Raises AbCellera Biologics (NASDAQ:ABCL) Price Target to $12.00

Key Points

• Cantor Fitzgerald raised AbCellera Biologics’ price target to $12 from $11 and maintained an “overweight” rating, implying roughly 103% upside from the $5.92 share price.
• Analyst sentiment is mixed but leans positive: MarketBeat reports a “Moderate Buy” consensus with an average price target of $9, while ratings range from Strong Buy to Sell.
• AbCellera recently missed quarterly expectations, reporting a loss of $0.18 per share versus the $0.14 consensus loss and revenue of $4.05 million versus $7.85 million expected.

AbCellera Biologics (NASDAQ:ABCL - Get Free Report) had its price objective boosted by investment analysts at Cantor Fitzgerald from $11.00 to $12.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Cantor Fitzgerald's price objective would suggest a potential upside of 102.70% from the company's current price.

ABCL has been the subject of a number of other research reports. Wall Street Zen lowered AbCellera Biologics from a "hold" rating to a "sell" rating in a research note on Saturday, May 16th. JonesTrading assumed coverage on AbCellera Biologics in a research note on Friday, April 10th. They set 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 note on Friday, July 17th. Finally, Benchmark upgraded shares of AbCellera Biologics from a "hold" rating to a "buy" rating and set a $11.00 price target on the stock in a research report on Tuesday, July 7th. 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, AbCellera Biologics has an average rating of "Moderate Buy" and an average price target of $9.00.

AbCellera Biologics Price Performance

NASDAQ:ABCL opened at $5.92 on Thursday. The business's 50-day moving average is $6.19 and its two-hundred day moving average is $4.66. The firm has a market capitalization of $1.81 billion, a PE ratio of -12.33 and a beta of 1.20. AbCellera Biologics has a 12 month low of $2.74 and a 12 month high of $8.44.

AbCellera Biologics (NASDAQ:ABCL - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.04). The company had revenue of $4.05 million during the quarter, compared to analysts' expectations of $7.85 million. AbCellera Biologics had a negative return on equity of 14.86% and a negative net margin of 181.75%. Equities analysts anticipate that AbCellera Biologics will post -0.67 EPS for the current year.

Institutional Investors Weigh In On AbCellera Biologics

A number of hedge funds have recently made changes to their positions in the business. Invesco Ltd. increased its position in AbCellera Biologics by 114.6% in the 1st quarter. Invesco Ltd. now owns 24,146 shares of the company's stock valued at $54,000 after acquiring an additional 12,893 shares during the period. Geode Capital Management LLC lifted its position in AbCellera Biologics by 3.5% in the second quarter. Geode Capital Management LLC now owns 363,188 shares of the company's stock worth $1,246,000 after purchasing an additional 12,301 shares during the period. Creative Planning lifted its holdings in shares of AbCellera Biologics by 6.9% in the second quarter. Creative Planning now owns 41,003 shares of the company's stock valued at $141,000 after buying an additional 2,656 shares during the period. Raymond James Financial Inc. boosted its position in shares of AbCellera Biologics by 17.0% during the 2nd quarter. Raymond James Financial Inc. now owns 28,049 shares of the company's stock valued at $96,000 after purchasing an additional 4,070 shares in the last quarter. Finally, Bank of America Corp DE increased its holdings in shares of AbCellera Biologics by 1,304.5% in the second quarter. Bank of America Corp DE now owns 224,365 shares of the company's stock valued at $770,000 after buying an additional 208,390 shares in the last quarter. Institutional investors own 61.42% of the company's stock.

About AbCellera Biologics

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.

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