Absci’s (ABSI) Buy Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of Absci (NASDAQ:ABSI) in a research note published on Wednesday,Benzinga reports. HC Wainwright currently has a $7.00 price objective on the stock. HC Wainwright also issued estimates for Absci’s Q4 2024 earnings at ($0.25) EPS, FY2024 earnings at ($0.93) EPS, Q1 2025 earnings at ($0.19) EPS, Q2 2025 earnings at ($0.20) EPS, Q3 2025 earnings at ($0.10) EPS, Q4 2025 earnings at ($0.20) EPS, FY2025 earnings at ($0.69) EPS, FY2026 earnings at ($0.56) EPS, FY2027 earnings at ($0.25) EPS and FY2028 earnings at $0.22 EPS.

Separately, Guggenheim initiated coverage on shares of Absci in a research note on Wednesday, October 2nd. They issued a “buy” rating and a $10.00 price objective for the company. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $8.67.

Absci Stock Down 5.8 %

Shares of NASDAQ ABSI opened at $2.84 on Wednesday. The company has a 50 day simple moving average of $3.91 and a 200 day simple moving average of $4.06. The firm has a market cap of $326.19 million, a PE ratio of -3.05 and a beta of 2.18. Absci has a 1 year low of $1.33 and a 1 year high of $6.72. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.63 and a quick ratio of 6.49.

Absci (NASDAQ:ABSI) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.05). Absci had a negative return on equity of 46.56% and a negative net margin of 2,321.56%. The firm had revenue of $1.70 million for the quarter, compared to the consensus estimate of $1.77 million. During the same quarter in the previous year, the business posted ($0.24) EPS. On average, research analysts forecast that Absci will post -0.8 EPS for the current year.

Institutional Trading of Absci

Hedge funds have recently bought and sold shares of the business. Comerica Bank acquired a new stake in Absci in the 1st quarter valued at $31,000. SG Americas Securities LLC purchased a new position in Absci during the 1st quarter worth $63,000. Avantax Advisory Services Inc. purchased a new position in Absci during the 1st quarter worth $71,000. IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new position in Absci during the 3rd quarter worth $53,000. Finally, Farther Finance Advisors LLC boosted its holdings in Absci by 119.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 18,876 shares of the company’s stock worth $72,000 after acquiring an additional 10,275 shares during the last quarter. Institutional investors and hedge funds own 52.05% of the company’s stock.

Absci Company Profile

Absci Corporation operates as a data-first generative artificial intelligence (AI) drug creation company in the United States. The company combines AI with scalable wet lab technologies to create biologics for patients. Its integrated drug creation platform is designed to improve upon traditional biologic drug discovery by using AI to simultaneously optimize multiple drug characteristics that may be important to development and therapeutic benefit.