FY2024 EPS Estimates for AbCellera Biologics Inc. Lifted by Leerink Partnrs (NASDAQ:ABCL)

AbCellera Biologics Inc. (NASDAQ:ABCL) – Research analysts at Leerink Partnrs boosted their FY2024 earnings estimates for AbCellera Biologics in a research report issued to clients and investors on Tuesday, August 6th. Leerink Partnrs analyst P. Souda now anticipates that the company will post earnings per share of ($0.56) for the year, up from their prior forecast of ($0.57). The consensus estimate for AbCellera Biologics’ current full-year earnings is ($0.60) per share. Leerink Partnrs also issued estimates for AbCellera Biologics’ Q4 2024 earnings at ($0.15) EPS, Q3 2025 earnings at ($0.16) EPS and FY2025 earnings at ($0.62) EPS.

AbCellera Biologics (NASDAQ:ABCL) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.02. The company had revenue of $7.30 million for the quarter, compared to the consensus estimate of $10.12 million. AbCellera Biologics had a negative return on equity of 12.61% and a negative net margin of 410.47%. AbCellera Biologics’s revenue for the quarter was down 27.7% on a year-over-year basis. During the same quarter last year, the business posted ($0.11) EPS.

Separately, KeyCorp reiterated an “overweight” rating and issued a $5.00 price objective (down previously from $7.00) on shares of AbCellera Biologics in a report on Thursday, July 11th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $14.20.

AbCellera Biologics Trading Down 3.2 %

Shares of ABCL stock opened at $2.68 on Friday. The firm has a market capitalization of $788.06 million, a price-to-earnings ratio of -5.15 and a beta of 0.39. The business’s 50-day moving average price is $3.08 and its 200-day moving average price is $4.01. AbCellera Biologics has a 12 month low of $2.56 and a 12 month high of $6.14.

Institutional Investors Weigh In On AbCellera Biologics

Several institutional investors and hedge funds have recently made changes to their positions in ABCL. Mirae Asset Global Investments Co. Ltd. bought a new stake in AbCellera Biologics in the first quarter valued at approximately $454,000. B. Riley Wealth Advisors Inc. increased its position in shares of AbCellera Biologics by 85.7% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 19,500 shares of the company’s stock worth $111,000 after buying an additional 9,000 shares during the period. Principal Financial Group Inc. increased its position in shares of AbCellera Biologics by 19.6% during the fourth quarter. Principal Financial Group Inc. now owns 111,188 shares of the company’s stock worth $635,000 after buying an additional 18,217 shares during the period. Signaturefd LLC raised its stake in AbCellera Biologics by 306.3% during the fourth quarter. Signaturefd LLC now owns 10,596 shares of the company’s stock worth $61,000 after buying an additional 7,988 shares during the last quarter. Finally, Handelsbanken Fonder AB boosted its position in AbCellera Biologics by 13.5% during the fourth quarter. Handelsbanken Fonder AB now owns 45,400 shares of the company’s stock valued at $259,000 after acquiring an additional 5,400 shares during the last quarter. Institutional investors and hedge funds own 61.42% of the company’s stock.

About AbCellera Biologics

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.