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AbCellera Biologics Inc. (ABCL)

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Previous Close28.25
Bid28.60 x 900
Ask29.35 x 800
Day's Range28.43 - 30.24
52 Week Range23.20 - 71.91
Avg. Volume1,060,443
Market Cap8.036B
Beta (5Y Monthly)N/A
PE Ratio (TTM)N/A
Earnings DateN/A
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
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  • The Daily Biotech Pulse: Merck Shelves 2 COVID-19 Studies, Bristol-Myers Squibb Gets European Regulatory Nod, InspireMD's Reverse Split

    The Daily Biotech Pulse: Merck Shelves 2 COVID-19 Studies, Bristol-Myers Squibb Gets European Regulatory Nod, InspireMD's Reverse Split

    Here's a roundup of top developments in the biotech space over the last 24 hours: Scaling The Peaks (Biotech Stocks Hitting 52-week Highs April 14) 10x Genomics, Inc. (NASDAQ: TXG) Affimed N.V. (NASDAQ: AFMD) Bio-Techne Corporation (NASDAQ: TECH) - announced out-licensing of antibody treatment candidate to Xencor, Inc. (NASDAQ: XNCR) BioNTech SE (NASDAQ: BNTX) - reacted to increased EU orders for its COVID-19 vaccine in the wake of the Johnson & Johnson (NYSE: JNJ) setback Globus Medical, Inc. (NYSE: GMED) Medpace Holdings, Inc. (NASDAQ: MEDP) Medtronic plc (NYSE: MDT) Merit Medical Systems, Inc. (NASDAQ: MMSI) Natus Medical Incorporated (NASDAQ: NTUS) NuVasive, Inc. (NASDAQ: NUVA) PLx Pharma Inc. (NASDAQ: PLXP) PPD, Inc. (NASDAQ: PPD) - moved on rumors of a potential buyout by Thermo Fisher Scientific Inc. (NYSE: TMO) ShockWave Medical, Inc. (NASDAQ: SWAV) Supernus Pharmaceuticals, Inc. (NASDAQ: SUPN) Zimmer Biomet Holdings, Inc. (NYSE: ZBH) Down In The Dumps (Biotech Stocks Hitting 52-week Lows April 14) Bellerophon Therapeutics, Inc. (NASDAQ: BLPH) Celyad Oncology SA (NASDAQ: CYAD) Design Therapeutics, Inc. (NASDAQ: DSGN) Kronos Bio, Inc. (NASDAQ: KRON) Lixte Biotechnology Holdings, Inc. (NASDAQ: LIXT) Metacrine, Inc. (NASDAQ: MTCR) Millendo Therapeutics, Inc. (NASDAQ: MLND) Nabriva Therapeutics plc (NASDAQ: NBRV) Osmotica Pharmaceuticals plc (NASDAQ: OSMT) Reviva Pharmaceuticals Holdings, Inc. (NASDAQ: RVPH) Titan Pharmaceuticals, Inc. (NASDAQ: TTNP) Stocks In Focus Regenxbio Doses First Patient In Gene Therapy Study REGENXBIO Inc. (Nasdaq: RGNX) said it dosed the first patient in Cohort 3 of the ongoing Phase I/2 trial of RGX-121 for the treatment of Mucopolysaccharidosis Type II, also known as Hunter Syndrome, in patients up to five years old. RGX-121 is an investigational one-time gene therapy designed to deliver the gene that encodes the iduronate-2-sulfatase enzyme using the AAV9 vector. RGX-121 is administered directly to the central nervous system. The stock gained 5.4% to $37.25 in after-hours trading. Novavax Confirms Participation In Combination COVID-19 Vaccine Study In UK Novavax, Inc. (NASDAQ: NVAX) said it is participating in a newly expanded investigator-initiated Phase 2 clinical trial called "Comparing COVID-19 Vaccine Schedule Combinations – Stage 2," dubbed Com-COV2, to be conducted by the University of Oxford and supported by the U.K. Vaccines Taskforce. Novavax's recombinant protein vaccine candidate NVX-CoV2373 is one of four COVID-19 vaccines that will be studied to evaluate the potential for combined regimens that mix vaccines from different manufacturers to achieve immune protection against COVID-19. The stock was up 2.18% premarket to $205.72. Pacira Initiates Legal Proceedings Against Publication Pacira BioSciences, Inc. (NASDAQ: PCRX) said it has filed a lawsuit against the American Society of Anesthesiologists and various other defendants, seeking pecuniary damages and the retraction of three articles that it said create the false and misleading impression that its Exparel is not an effective analgesic. The stock was down 1.35% to $68.49 in premarket trading Thursday. Bristol-Myers Squibb Announces European Approval For Kidney Cancer Combo Treatment Bristol-Myers Squibb (NYSE: BMY) said the European Commission has approved its Opdivo in combination with Exelixis, Inc.'s (NASDAQ: EXEL) Cabometyx for the first-line treatment of adults with advanced renal cell carcinoma. Merck Pulls Plug On COVID-19 Asset, Shelves Study of Another In Hospitalized COVID-19 Patients Merck (NYSE: MRK) and partner Ridgeback Biotherapeutics said a decision has been made to proceed with the Phase 3 portion of MOVe-OUT in outpatients with COVID-19 evaluating the 800 mg dose of molnupiravir twice daily. Yet the companies have decided not to proceed with the Phase 3 study of molnupiravir in hospitalized patients, as data from MOVe-IN indicate that molnupiravir is unlikely to demonstrate a clinical benefit in this population. Separately, Merck announced the discontinuation of development of MK-7110 for the treatment of hospitalized patients with COVID-19. The company acquired MK-7110 in December 2020 through its acquisition of OncoImmune. View more earnings on IBB Related Link: The Week Ahead In Biotech (April 11-17): Avenue Therapeutics FDA Decision and Conference Presentations In The Spotlight Roche Reports Positive Long-Term Phase 2/3 Data For Spinal Muscular Dystrophy Treatment In Infants Roche Holding AG (OTC: RHHBY) announced new two-year data from Part 2 of FIREFISH, a Phase 2/3 global study evaluating Evrysdi in infants ages 1-7 months at enrollment with symptomatic Type 1 spinal muscular atrophy. The data shows Evrysdi continued to improve motor function between months 12 and 24, including the ability to sit without support. The study also showed Evrysdi continued to improve survival, improve ability to feed orally and reduce the need for permanent ventilation. Exploratory data suggested Evrysdi continued to improve the ability to swallow and reduce hospitalizations compared to the natural course of Type 1 SMA. Safety for Evrysdi was consistent with its established safety profile. Neuronetics Names Robert Cascella As Chairman Neuronetics, Inc. (NASDAQ: STIM) announced that Brian Farley will retire from its board and his role as chairman following its annual shareholder meeting scheduled for May 27. The company named Robert Cascella, who joined the board on April 1, as chairman of its board following Farley's retirement. The board will now have seven members. InspireMD Announces 1-For-15 Reverse Split InspireMD, Inc. (NYSE: NSPR) announced a 1-for-15 reverse split of its common stock effective April 26. Beginning on April 27, the stock will trade on the NYSE American on a split-adjusted basis. The stock was down 9.15% premarket at 50 cents. Compass Announces Publication Of Positive Results For Depression Drug COMPASS Pathways plc (NASDAQ: CMPS) announced publication of the results of an exploratory study in the New England Journal of Medicine showing signals of positive activity in COMP360 psilocybin compared with the standard antidepressant escitalopram for major depressive disorder. COMP360 is Compass' proprietary formulation of synthetic psilocybin. AbCellera Announces Collaboration Agreement For Antibody Drug Discovery AbCellera Biologics Inc. (NASDAQ: ABCL) and Empirico announced a strategic multi-target discovery collaboration. Through each company's proprietary technologies, the multi-target collaboration leverages hyper-scale datasets, machine learning and advanced computation to both identify high-value, genetically validated drug targets and discover novel therapeutic antibodies, the companies said. Under the terms of the agreement, Empirico will have the rights to develop and commercialize novel antibodies resulting from the collaboration. AbCellera will receive research payments and is eligible to receive downstream clinical and commercial milestone payments and royalties on net sales of products from Empirico. Abcellera shares were up 2.65% to $29 in premarket trading Thursday. On The Radar Clinical Readouts Chinook Therapeutics, Inc. (NASDAQ: KDNY) will present at the the International Society of Nephrology's World Congress of Nephrology with Gd-IgA1 biomarker data in healthy volunteers from Parts 1 and Part 2 of the ongoing Phase 1 study of BION-1301 in immunoglobin A nephropathy, as well as data from the Phase 1 intravenous to subcutaneous bioavailability study in healthy volunteers. Earnings Affimed N.V. (NASDAQ: AFMD) (before the market open) Centogene N.V. (NASDAQ: CNTG) Centogene N.V. (NASDAQ: CNTG) (before the market open) Adamis Pharmaceuticals Corporation (NASDAQ: ADMP) Related Link: Attention Biotech Investors: Mark Your Calendar For April PDUFA Dates See more from BenzingaClick here for options trades from BenzingaThe Daily Biotech Pulse: Novavax CFO Departs, Zai Lab Inks Cancer Drug Collaboration, FDA Nod For GileadThe Daily Biotech Pulse: Leadership Transition At Amarin, Vaccine Setback For J&J, FDA Nod For Label Expansion of Roche's Asthma Drug© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • AbCellera Biologics Inc. (NASDAQ:ABCL) Analysts Just Cut Their EPS Forecasts Substantially
    Simply Wall St.

    AbCellera Biologics Inc. (NASDAQ:ABCL) Analysts Just Cut Their EPS Forecasts Substantially

    The latest analyst coverage could presage a bad day for AbCellera Biologics Inc. ( NASDAQ:ABCL ), with the analysts...

  • Analysts See an ‘Attractive Entry Point’ in These 3 Stocks

    Analysts See an ‘Attractive Entry Point’ in These 3 Stocks

    What to make of markets today? Everything is both up and down. The major stock indexes are showing strong gains for the past year, but have seen recent pullbacks. High volatility, however, brings on opportunities. During these pullbacks, investors get a chance to ‘buy low and sell high,’ taking advantage of short-term falls in share prices. There’s risk, of course. Stocks don’t exist in a vacuum, and the forces tugging on them are subject to their own varying influences. Inflation worries, sparked by Federal spending plans, have pushed up bond yields, but the Federal Reserve has no intention of raising interest rates any time soon. The financial landscape is uncertain – and the only clarity is that, for now, stocks are currently offering the best rates of return. Wall Street’s analysts are still seeing plenty – in their words – attractive entry points, stocks that are primed for just this sort of trading. We’ve used the TipRanks database to pull up the details on three such stocks. Let's take a closer look. AbCellera Biologics (ABCL) We'll start with AbCellera, which holds a fascinating position in the biotech industry. The company is a leader in human antibody research, researching the immune system to develop antibodies which be used as the base for new drugs and disease treatments. AbCellera – and its tech platform – have been involved in the fight against COVID-19 since last summer, researching potential antibody treatments for the virus. Its Covid-19 drug, Bamlanivimab, developed in partnership with Eli Lilly, was granted an emergency use authorization by the FDA this past November, and has shown positive results in two Phase 3 clinical trials. AbCellera is no stranger to pandemic-related research. The company had a leading role in the Pandemic Prevention Platform, part of the DARPA Biological Tech Office. AbCellera works on developing countermeasures to pandemic agents on an accelerated timescale. ABCL shares are new to the public market; the company held its IPO this past December. In its first day of trading, ABCL jumped from a $20 initial price to an afternoon high above $70 before closing the day at $58.90. The IPO raised over $555.5 million in gross proceeds. Since then, the stock has fallen, and ABCL shares are now down 55%. This opens up the ‘attractive entry point’ seen by Credit Suisse analyst Tiago Fauth. “With the pace of new company creation in biotech at highs, and a clear value proposition for partners (high-throughput solution intended to shorten the antibody discovery cycle and generate higher probability drug candidates), we believe the pullback in shares offers an attractive entry point for investors looking to capitalize on the disruptive potential of a leading technology-powered drug discovery platform,” Fauth opined. Getting into the details, the Credit Suisse analyst adds, “We believe ABCL offers uniquely strong thesis fundamentals that clearly stand out from some of the comps that have lagged in recent days, including (1) visibility on substantial near-term cash flows generation from bamlanivimab and no financing overhang, (2) a differentiated and increasingly validated discovery platform with a large TAM, and (3) underappreciated LT business model optionality.” To this end, Fauth gives ABCL shares a $54 target price, suggesting a robust 103% upside potential by year’s end. His bullish target supports his Outperform (i.e. Buy) rating. (To watch Fauth’s track record, click here) Sometimes, Wall Street’s analysts all agree, and that’s the case here. ABCL has 5 recent reviews and all are to Buy, giving the stock a Strong Buy consensus rating. Shares are trading for $26.55 with an average target of $55.80 implying ~107% one-year upside. (See ABCL stock analysis on TipRanks) Ionis Pharmaceuticals (IONS) The next 'attractive' stock we're looking at is Ionis Pharmaceuticals, a California-based clinical research firm focusing on RNA-targeted therapeutics. These medications are designed to interact with the patient’s own RNA, making for a precise treatment that disrupts disease processes. Ionis has three drugs approved and an active pipeline of candidates in development. The approved drugs are Spinraza, used to treat spinal muscular dystrophy; Tegsedi, used to treat the neurodegenerative disease ATTR; and Waylivra, which treat genetically caused triglycerides in the blood. Of the three drugs, Spinraza has the highest sales, and brought in $2 billion in worldwide revenue last year. More than 11,000 patients were receiving Spinraza at the end of 4Q20. The other two approved drugs, Tegsedi and Waylivra, saw product sales increase 65% from 2019 to 2020. Strong product sales allowed Ionis to finish 2020 with $1.9 billion in cash on hand. The stock has slipped 30% since its recent peak in January, but Oppenheimer's 5-star analyst Kevin Degeeter views the "current valuation as offering an attractive entry point for investors with 9-plus month outlook…” Expanding on this outlook, the analyst adds, “We view simplification of IONS's portfolio and transition from partnering to investment in wholly owned pipeline programs as offering a catalyst for unlocking value from the RNAi platform. We expect IONS shares to enjoy steady multiple expansion as the company diversifies revenue away from Spinraza royalties toward in-house orphan drug therapies, including TTR. There could be upside to our outlook if IONS identifies creative structures to unlock value from its broad pipeline of partnered programs with Biogen, Pfizer, Roche, and Novartis.” Based on the above, DeGeeter rates IONS shares an Outperform (i.e. Buy), and sets a $63 price target that implies room for a 49% one-year upside. (To watch DeGeeter’s track record, click here) What does the rest of the Street think? Looking at the consensus breakdown, opinions from other analysts are more spread out. 6 Buys, 3 Holds and 2 Sells add up to a Moderate Buy consensus. In addition, the $56.70 average price target indicates 33% upside potential. (See IONS stock analysis on TipRanks) Equinix (EQIX) From biopharma and biotech, we’ll change gears and take a look at digital tech. Equinix is a leader in the colocation data center market, operating over 200 data centers in 25 countries across the America, Europe and the Middle East, and Asia. The company does business as a real estate investment trust, owning and managing the data centers, which are leased out to business clients. As can be imagined, a major owner/operator of data centers would find itself well-positioned to reap benefits during the COVID-19 pandemic – and Equinix did. It might be fairer to say, however, that the company’s model proved immune to the virus. Equinix’s business has been growing for 18 years, and the corona crisis couldn’t dent that. In 4Q20, the company recorded its 72nd consecutive quarter of sequential revenue growth. The top line for 2020 came in at $5.99 billion, up 8% year-over-year. Acquisition costs and losses due to debt extinguishment pushed income down by 27% yoy. Looking ahead, the company projects income in range of $6.58 billion to $6.64 billion, for another annual gain of 10% to 11%. Equinix is continuing to expand, and earlier this month released plans for $3 billion hyperscale program, financed in part by joint venture partners. The project will increase the company’s ability to meet the demands of its 10,000-strong customer base. Sami Badri, in his coverage of this stock for Credit Suisse, writes of Equinix’s general situation. “[As] we head towards a post-COVID world, digital leaders will be reminded of the importance of minimizing time to market and the ability to rapidly alter workload capabilities, both of which are eased through the use of the Equinix Metal Platform... Through its partner solutions EQIX will seek to complement its existing interconnection, networking and compute services to offer an expanded choice of Infrastructure as a Service solutions, which will only grow EQIX's appeal among data center customers looking for a long-term solution to best serve their end consumers,” Badri wrote. Regarding the stock’s value to investors, Badri adds, “EQIX is trading below large cap peer DLR based on consensus estimates, also a new recent development. We believe the recent pull back in EQIX's trading price makes this a very attractive entry point.” In all, the analyst gives this stock an Outperform (i.e. Buy) rating, and his $942 price target implies a 43% upside over the next 12 months. (To watch Badri’s track record, click here) Who doesn’t like a market leader with a near two-decade record of revenue growth? Wall Street’s analysts are unanimous here, giving EQIX 13 Buy reviews for a Strong Buy consensus rating. Shares are selling for $660.23, and their $838.92 average price target implies a 27% one-year upside potential from that level. (See EQIX stock analysis on TipRanks) To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights. Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.