AbCellera price target raised to $7 from $5 at BMO Capital

BMO Capital raised the firm’s price target on AbCellera (ABCL) to $7 from $5 and keeps an Outperform rating on the shares after its Q2 earnings beat. While previous quarters in recent memory have been more challenged for AbCellera as the company has attempted to transition to an internal development clinical biotechnology company, Q2 earnings highlighted positive updates with the addition of ‘688 as a new development candidate and initial clinical data for ‘635 expected in mid-2026, the analyst tells investors in a research note.