What is HC Wainwright’s Estimate for Absci FY2024 Earnings?

Absci Co. (NASDAQ:ABSI) – Stock analysts at HC Wainwright dropped their FY2024 earnings per share (EPS) estimates for shares of Absci in a research report issued to clients and investors on Wednesday, November 13th. HC Wainwright analyst S. Ramakanth now expects that the company will post earnings of ($0.93) per share for the year, down from their previous forecast of ($0.79). HC Wainwright has a “Buy” rating and a $7.00 price objective on the stock. The consensus estimate for Absci’s current full-year earnings is ($0.80) per share. HC Wainwright also issued estimates for Absci’s Q4 2024 earnings at ($0.25) 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 Absci in a research note on Wednesday, October 2nd. They set a “buy” rating and a $10.00 price target for the company. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $8.67.

Absci Trading Down 5.8 %

ABSI stock opened at $2.84 on Friday. Absci has a 52 week low of $1.33 and a 52 week high of $6.72. The company has a market cap of $326.19 million, a price-to-earnings ratio of -3.05 and a beta of 2.18. The company has a quick ratio of 6.49, a current ratio of 5.63 and a debt-to-equity ratio of 0.01. The business has a fifty day simple moving average of $3.91 and a 200-day simple moving average of $4.05.

Absci (NASDAQ:ABSI) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.05). The company had revenue of $1.70 million for the quarter, compared to analyst estimates of $1.77 million. Absci had a negative return on equity of 46.56% and a negative net margin of 2,321.56%. During the same period last year, the company posted ($0.24) EPS.

Institutional Trading of Absci

Institutional investors have recently added to or reduced their stakes in the business. Comerica Bank acquired a new position in shares of Absci during the first quarter worth about $31,000. IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new stake in shares of Absci during the 3rd quarter valued at about $53,000. SG Americas Securities LLC acquired a new position in Absci during the 1st quarter worth approximately $63,000. Avantax Advisory Services Inc. purchased a new position in Absci in the 1st quarter worth approximately $71,000. Finally, Farther Finance Advisors LLC grew its position in Absci by 119.5% in the third quarter. Farther Finance Advisors LLC now owns 18,876 shares of the company’s stock valued at $72,000 after acquiring an additional 10,275 shares in the last quarter. 52.05% of the stock is owned by hedge funds and other institutional investors.

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.