AbCellera upgraded to Buy at Benchmark after R&D progress

As previously reported, Benchmark upgraded AbCellera to Buy from Hold with a $9 price target. AbCellera reported results for Q4 and highlights during the fourth quarter included three new partnered program starts, two proprietary R&D programs entering into IND-enabling studies, and three additional partnered molecules entering clinical trials, the analyst tells investors. The firm’s post-earnings upgrade is due to improved metrics for other stocks as well as R&D progress for the company, the analyst noted.