HC Wainwright Issues Optimistic Estimate for ASMB Earnings

Assembly Biosciences, Inc. (NASDAQ:ASMB) – Research analysts at HC Wainwright upped their FY2024 EPS estimates for Assembly Biosciences in a research note issued to investors on Monday, November 11th. HC Wainwright analyst E. Arce now anticipates that the biopharmaceutical company will post earnings of ($6.87) per share for the year, up from their prior forecast of ($7.41). HC Wainwright currently has a “Neutral” rating on the stock. The consensus estimate for Assembly Biosciences’ current full-year earnings is ($7.82) per share. HC Wainwright also issued estimates for Assembly Biosciences’ Q4 2024 earnings at ($1.75) EPS, Q1 2025 earnings at ($1.95) EPS, Q2 2025 earnings at ($2.03) EPS, Q3 2025 earnings at ($2.06) EPS, Q4 2025 earnings at ($1.98) EPS, FY2025 earnings at ($8.03) EPS, FY2026 earnings at ($10.85) EPS, FY2027 earnings at ($14.69) EPS and FY2028 earnings at ($15.00) EPS.

Separately, Jefferies Financial Group raised Assembly Biosciences from a “hold” rating to a “buy” rating and boosted their target price for the stock from $2.00 to $35.00 in a report on Friday, September 20th.

Assembly Biosciences Stock Performance

ASMB stock opened at $17.05 on Thursday. The firm’s 50-day moving average is $16.74 and its two-hundred day moving average is $15.29. Assembly Biosciences has a 52 week low of $7.69 and a 52 week high of $19.93.

Hedge Funds Weigh In On Assembly Biosciences

Hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC raised its holdings in shares of Assembly Biosciences by 29.7% during the third quarter. FMR LLC now owns 15,855 shares of the biopharmaceutical company’s stock valued at $240,000 after acquiring an additional 3,635 shares during the period. Acadian Asset Management LLC grew its position in Assembly Biosciences by 131.0% during the 2nd quarter. Acadian Asset Management LLC now owns 13,558 shares of the biopharmaceutical company’s stock worth $184,000 after purchasing an additional 7,690 shares in the last quarter. Renaissance Technologies LLC raised its stake in Assembly Biosciences by 39.2% during the 2nd quarter. Renaissance Technologies LLC now owns 54,911 shares of the biopharmaceutical company’s stock valued at $753,000 after purchasing an additional 15,451 shares during the period. Finally, Armistice Capital LLC acquired a new position in Assembly Biosciences during the second quarter valued at $6,421,000. Institutional investors and hedge funds own 19.92% of the company’s stock.

Insiders Place Their Bets

In related news, major shareholder Alexander Schornstein purchased 10,000 shares of the company’s stock in a transaction on Tuesday, October 8th. The shares were bought at an average price of $14.58 per share, with a total value of $145,800.00. Following the completion of the acquisition, the insider now owns 703,113 shares of the company’s stock, valued at approximately $10,251,387.54. This represents a 1.44 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 5.10% of the stock is owned by company insiders.

Assembly Biosciences Company Profile

Assembly Biosciences, Inc, a biotechnology company, develops therapeutic candidates for the treatment of viral diseases. It develops ABI-5366, a long-acting herpes simplex virus (HSV) helicase-primase inhibitor that is in Phase 1a/1b clinical trial to treat recurrent genital herpes; ABI-1179, which is in Phase 1a/1b clinical trial for the treatment of recurrent genital herpes; and ABI-6250, a small molecule orally bioavailable hepatitis delta virus entry inhibitor that is in Phase 1a clinical trial.