StoneX Forecasts Strong Price Appreciation for AbCellera Biologics (NASDAQ:ABCL) Stock

AbCellera Biologics (NASDAQ:ABCL) had its price target hoisted by investment analysts at StoneX from $11.00 to $15.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. StoneX‘s target price indicates a potential upside of 25.52% from the company’s previous close.

Several other research analysts have also weighed in on the company. Stifel Nicolaus lifted their price objective on AbCellera Biologics from $9.00 to $14.00 and gave the stock a “buy” rating in a research report on Tuesday. The Goldman Sachs Group initiated coverage on AbCellera Biologics in a research report on Thursday, September 24th. They set a “neutral” rating and a $13.00 target price on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AbCellera Biologics in a research note on Thursday, October 15th. JPMorgan Chase & Co. began coverage on AbCellera Biologics in a research note on Tuesday, September 29th. They set an “overweight” rating and a $17.00 target price for the company. Finally, Jefferies Financial Group began coverage on AbCellera Biologics in a report on Friday, October 30th. They issued a “buy” rating and a $21.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $16.20.

AbCellera Biologics Stock Down 4.1%

ABCL opened at $11.95 on Wednesday. AbCellera Biologics has a twelve month low of $2.74 and a twelve month high of $15.02. The company has a fifty day moving average of $12.33 and a 200-day moving average of $7.16. The stock has a market cap of $3.66 billion, a PE ratio of -24.90 and a beta of 1.59.

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

Institutional Investors Weigh In On AbCellera Biologics

Hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in shares of AbCellera Biologics in the 2nd quarter worth $29,872,000. Bank of America Corp DE acquired a new stake in AbCellera Biologics in the 2nd quarter valued at $48,211,000. Hsbc Holdings PLC acquired a new stake in AbCellera Biologics in the 2nd quarter valued at $929,000. SEB Asset Management AB bought a new stake in AbCellera Biologics during the 1st quarter valued at $1,188,000. Finally, WINTON GROUP Ltd bought a new stake in AbCellera Biologics during the 2nd quarter valued at $442,000. Institutional investors and hedge funds 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.