Absci (NASDAQ:ABSI) Earns Buy Rating from HC Wainwright

HC Wainwright reissued their buy rating on shares of Absci (NASDAQ:ABSI) in a report released on Wednesday morning,Benzinga reports. HC Wainwright currently has a $7.00 target price 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 set a “buy” rating and a $10.00 target price on the stock. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $8.67.

Absci Price Performance

Shares of NASDAQ ABSI opened at $2.84 on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.49 and a current ratio of 5.63. The firm’s 50-day simple moving average is $3.91 and its 200 day simple moving average is $4.05. The stock has a market cap of $326.19 million, a price-to-earnings ratio of -3.05 and a beta of 2.18. Absci has a fifty-two week low of $1.33 and a fifty-two week high of $6.72.

Absci (NASDAQ:ABSI) last posted 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 firm had revenue of $1.70 million for the quarter, compared to analysts’ expectations of $1.77 million. During the same period in the prior year, the firm earned ($0.24) earnings per share. As a group, research analysts anticipate that Absci will post -0.8 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

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

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.