Absci (NASDAQ:ABSI) Releases Earnings Results, Misses Estimates By $0.03 EPS

Absci (NASDAQ:ABSI) announced its earnings results on Tuesday. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.03), Zacks reports. The company had revenue of $0.67 million during the quarter, compared to analysts’ expectations of $1.77 million. Absci had a negative return on equity of 46.56% and a negative net margin of 2,321.56%.

Absci Price Performance

Shares of ABSI stock opened at $3.08 on Wednesday. Absci has a twelve month low of $2.45 and a twelve month high of $6.72. The stock has a market capitalization of $353.76 million, a price-to-earnings ratio of -3.31 and a beta of 2.09. The stock has a fifty day simple moving average of $3.87 and a two-hundred day simple moving average of $3.68. The company has a current ratio of 5.63, a quick ratio of 5.63 and a debt-to-equity ratio of 0.01.

Analyst Ratings Changes

A number of brokerages have recently commented on ABSI. Needham & Company LLC initiated coverage on Absci in a report on Wednesday, January 22nd. They issued a “buy” rating and a $9.00 target price for the company. Guggenheim restated a “buy” rating and set a $10.00 price objective on shares of Absci in a report on Tuesday, December 3rd. KeyCorp dropped their price objective on Absci from $6.00 to $5.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Finally, HC Wainwright restated a “buy” rating and set a $7.00 price objective on shares of Absci in a report on Friday, January 17th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $8.57.

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.