Debanjana Chatterjee, an analyst from JonesTrading, has initiated a new Buy rating on AbCellera Biologics (ABCL).
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Debanjana Chatterjee has given his Buy rating due to a combination of factors, starting with AbCellera’s proven antibody discovery engine that has already produced multiple clinical candidates, including high-profile COVID-19 antibodies for Eli Lilly, and now a wholly owned lead program, ABCL635, targeting menopausal hot flashes. With ABCL635 positioned as a potentially safer and more effective NK3 receptor antibody compared with currently approved small-molecule options, she views the upcoming Phase 2 data in 3Q26 as a favorable risk-reward catalyst.
Chatterjee also highlights physician feedback indicating strong willingness to use a convenient quarterly subcutaneous biologic in patients who cannot take hormone therapy, which underpins her view of a multi‑billion‑dollar revenue opportunity and possible upside if superior efficacy is confirmed. In addition, she points to AbCellera’s sizable cash balance, which limits downside risk, and emphasizes that the broader pipeline and partnered programs—such as ABCL575 in atopic dermatitis and later‑stage autoimmune and oncology assets—offer further upside optionality that is not fully reflected in the current share price.
In another report released on April 6, Truist Financial also reiterated a Buy rating on the stock with a $3.52 price target.