HC Wainwright Reiterates Buy Rating for Absci (NASDAQ:ABSI)

HC Wainwright restated their buy rating on shares of Absci (NASDAQ:ABSI) in a report published on Wednesday,Benzinga reports. They currently have a $7.00 price target 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 started coverage on shares of Absci in a research report on Wednesday, October 2nd. They issued a “buy” rating and a $10.00 price target on the stock. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $8.67.

Absci Stock Down 5.8 %

Shares of NASDAQ:ABSI opened at $2.84 on Wednesday. The firm has a market cap of $326.19 million, a P/E ratio of -3.05 and a beta of 2.18. Absci has a 12-month low of $1.33 and a 12-month high of $6.72. The business has a fifty day simple moving average of $3.91 and a 200 day simple moving average of $4.05. The company has a quick ratio of 6.49, a current ratio of 5.63 and a debt-to-equity ratio of 0.01.

Absci (NASDAQ:ABSI) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $1.70 million for the quarter, compared to the consensus estimate of $1.77 million. During the same quarter last year, the business earned ($0.24) earnings per share. Analysts predict that Absci will post -0.8 earnings per share for the current year.

Institutional Trading of Absci

Several hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC acquired a new stake in Absci in the first quarter worth $63,000. Susquehanna Fundamental Investments LLC bought a new stake in Absci in the 1st quarter valued at about $269,000. Avantax Advisory Services Inc. acquired a new position in Absci during the 1st quarter worth approximately $71,000. Vanguard Group Inc. raised its stake in Absci by 33.7% during the 1st quarter. Vanguard Group Inc. now owns 3,445,272 shares of the company’s stock worth $19,569,000 after buying an additional 869,131 shares during the period. Finally, EntryPoint Capital LLC bought a new position in Absci in the first quarter worth approximately $244,000. Institutional investors own 52.05% of the company’s stock.

About Absci

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.