Berenberg Bank Thinks AbCellera Biologics’ Stock is Going to Recover
Berenberg Bank analyst Gal Munda maintained a Buy rating on AbCellera Biologics (ABCL) today and set a price target of $53.00. The company’s shares closed last Tuesday at $27.21, close to its 52-week low of $23.20.
According to TipRanks.com, Munda is a 4-star analyst with an average return of 21.9% and a 78.6% success rate. Munda covers the Technology sector, focusing on stocks such as Unity Software, Cadence Design, and Autodesk.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for AbCellera Biologics with a $51.60 average price target, implying a 99.8% upside from current levels. In a report issued on April 28, BMO Capital also maintained a Buy rating on the stock with a $52.00 price target.
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Based on the recent corporate insider activity of 10 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.
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AbCellera Biologics Inc is a biotechnology company. The company develops antibodies to treat highly infectious diseases and various other types of diseases.