Planetpaprika
Nov 9, 4:23 PM
$ABCL
Q3 earnings after market close.
Focus on clinical updates for ABCL635, which has generated significant enthusiasm following breakthrough PH2 data in menopausal hot flashes.
ABCL expects a loss of 17 cents per share on revenue of
$6.21 million for the Q. While that would represent sequential improvement from the prior q’s loss of 18 cents/share, revenue of
$4.1 million, it also reflects a y-o-y revenue decline of 31% as ABCL transitions from its antibody discovery platform business to a pipeline-focused biotech.
Analysts rate the stock a Strong Buy,consensus PT of
$17.17.
Jefferies, UBS, JPMorgan initiated coverage in recent weeks with Buy ratings and price targets ranging from
$17 to
$21, all citing ABCL635’s commercial potential.
The monthly subcutaneous antibody for vasomotor symptoms showed an 83% reduction in moderate-to-severe hot flashes versus 33% for placebo in PH2 results announced in AUG, prompting analysts to describe the efficacy as "unprecedented" and "best-in-class..."
0 replies
