AbCellera Biologics Inc. (NASDAQ:ABCL – Get Rating) – Equities researchers at SVB Leerink upped their Q1 2023 earnings per share (EPS) estimates for shares of AbCellera Biologics in a report released on Thursday, April 20th. SVB Leerink analyst P. Souda now expects that the company will earn ($0.09) per share for the quarter, up from their prior estimate of ($0.13). SVB Leerink has a “Outperform” rating and a $18.00 price target on the stock. The consensus estimate for AbCellera Biologics’ current full-year earnings is ($0.56) per share. SVB Leerink also issued estimates for AbCellera Biologics’ Q2 2023 earnings at ($0.09) EPS, Q3 2023 earnings at ($0.09) EPS, Q4 2023 earnings at ($0.10) EPS, FY2023 earnings at ($0.41) EPS, Q1 2024 earnings at ($0.08) EPS, Q2 2024 earnings at ($0.09) EPS, Q3 2024 earnings at ($0.09) EPS, Q4 2024 earnings at ($0.09) EPS and FY2024 earnings at ($0.39) EPS.
ABCL has been the subject of a number of other reports. Cowen began coverage on shares of AbCellera Biologics in a research report on Tuesday, February 28th. They set an “outperform” rating for the company. Credit Suisse Group reaffirmed an “outperform” rating and issued a $34.00 price objective on shares of AbCellera Biologics in a research note on Wednesday, February 22nd. BMO Capital Markets dropped their target price on shares of AbCellera Biologics from $40.00 to $32.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 22nd. Finally, Cowen began coverage on shares of AbCellera Biologics in a report on Tuesday, February 28th. They set an “outperform” rating on the stock. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $27.33.
AbCellera Biologics Trading Up 1.3 %
AbCellera Biologics (NASDAQ:ABCL – Get Rating) last posted its quarterly earnings results on Tuesday, February 21st. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.11). The business had revenue of $21.50 million during the quarter, compared to the consensus estimate of $50.80 million. AbCellera Biologics had a net margin of 32.66% and a return on equity of 12.93%. The firm’s revenue was down 84.6% on a year-over-year basis. During the same quarter last year, the company posted $0.19 EPS.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in ABCL. Denali Advisors LLC bought a new stake in shares of AbCellera Biologics during the 1st quarter valued at $661,000. ETF Managers Group LLC purchased a new position in shares of AbCellera Biologics in the 1st quarter worth about $712,000. Raymond James & Associates raised its position in shares of AbCellera Biologics by 131.2% in the 1st quarter. Raymond James & Associates now owns 47,133 shares of the company’s stock worth $355,000 after purchasing an additional 26,744 shares during the last quarter. Neo Ivy Capital Management raised its position in shares of AbCellera Biologics by 977.0% in the 4th quarter. Neo Ivy Capital Management now owns 23,178 shares of the company’s stock worth $235,000 after purchasing an additional 21,026 shares during the last quarter. Finally, Voya Investment Management LLC raised its position in shares of AbCellera Biologics by 2.2% in the 4th quarter. Voya Investment Management LLC now owns 11,014,862 shares of the company’s stock worth $111,581,000 after purchasing an additional 237,265 shares during the last quarter. Institutional investors own 42.19% of the company’s stock.
About AbCellera Biologics
AbCellera Biologics Inc develops antibody discovery platform. Its full-stack, artificial intelligence-powered antibody discovery platform searches and analyzes the database of natural immune systems to find antibodies that could be developed as drugs. As of December 31, 2021, the company had 156 discovery programs that are either completed, in progress, or under contract with 36 partners.
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