In a report released today, Scott Schoenhaus from KeyBanc reiterated a Buy rating on AbCellera Biologics (ABCL – Research Report), with a price target of $7.00. The company’s shares closed yesterday at $3.70.
Schoenhaus covers the Healthcare sector, focusing on stocks such as Health Catalyst, Progyny, and GoodRx Holdings. According to TipRanks, Schoenhaus has an average return of -0.5% and a 35.94% success rate on recommended stocks.
Currently, the analyst consensus on AbCellera Biologics is a Strong Buy with an average price target of $12.50, which is a 237.84% upside from current levels. In a report released on May 7, BMO Capital also assigned a Buy rating to the stock with a $12.00 price target.
Based on AbCellera Biologics’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $12.36 million and a GAAP net loss of $47.15 million. In comparison, last year the company earned a revenue of $25.59 million and had a GAAP net loss of $22.75 million
Based on the recent corporate insider activity of 11 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ABCL in relation to earlier this year. Most recently, in February 2024, Carl L. G. Hansen, the CEO of ABCL bought 56,125.00 shares for a total of $151,537.50.
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AbCellera Biologics (ABCL) Company Description:
AbCellera Biologics Inc is a biotechnology company. The company develops antibodies to treat highly infectious diseases and various other types of diseases.
