Morgan Stanley Initiates a Hold Rating on Abcam (ABCM)
In a report issued on November 16, Tejas Savant from Morgan Stanley initiated coverage with a Hold rating on Abcam (ABCM) and a price target of $21.00. The company’s shares closed last Wednesday at $23.08.
According to TipRanks.com, Savant is a 4-star analyst with an average return of 22.5% and a 93.3% success rate. Savant covers the Healthcare sector, focusing on stocks such as Pacific Biosciences, Guardant Health, and NanoString Tech.
Abcam has an analyst consensus of Moderate Buy, with a price target consensus of $22.33.
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The company has a one-year high of $24.69 and a one-year low of $17.71. Currently, Abcam has an average volume of 241.3K.
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Abcam PLC is a biotechnology company that develops and provides antibodies to life science research and clinical communities. The company’s products allow research into the role of signaling and regulatory molecules and proteins in biological pathways. Such research ultimately leads to treatments for diseases such as cancer and immune deficiency disorders. Abcam’s focused on broadening its product range, improving speed to market, and accessing underpenetrated consumer groups in its markets. The company also selectively pursues partnerships and acquisitions.