Equities Analysts Offer Predictions for ASMB FY2024 Earnings

Assembly Biosciences, Inc. (NASDAQ:ASMB) – Equities research analysts at HC Wainwright increased their FY2024 earnings per share estimates for shares of Assembly Biosciences in a note issued to investors on Monday, November 11th. HC Wainwright analyst E. Arce now expects that the biopharmaceutical company will earn ($6.87) per share for the year, up from their prior estimate of ($7.41). HC Wainwright currently has a “Neutral” rating on the stock. The consensus estimate for Assembly Biosciences’ current full-year earnings is ($7.55) 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 upgraded Assembly Biosciences from a “hold” rating to a “buy” rating and raised their price objective for the stock from $2.00 to $35.00 in a report on Friday, September 20th.

Assembly Biosciences Stock Performance

ASMB stock opened at $16.14 on Thursday. Assembly Biosciences has a 52-week low of $7.69 and a 52-week high of $19.93. The stock’s fifty day simple moving average is $16.75 and its 200-day simple moving average is $15.30.

Insider Activity at Assembly Biosciences

In other news, major shareholder Alexander Schornstein bought 10,000 shares of Assembly Biosciences stock in a transaction that occurred on Tuesday, October 8th. The shares were purchased at an average price of $14.58 per share, for a total transaction of $145,800.00. Following the completion of the acquisition, the insider now owns 703,113 shares of the company’s stock, valued at $10,251,387.54. The trade was a 1.44 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 5.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC lifted its stake 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 worth $240,000 after purchasing an additional 3,635 shares in the last quarter. Acadian Asset Management LLC lifted its stake in shares of Assembly Biosciences by 131.0% during the second 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 lifted its stake in shares of Assembly Biosciences by 39.2% during the second quarter. Renaissance Technologies LLC now owns 54,911 shares of the biopharmaceutical company’s stock worth $753,000 after purchasing an additional 15,451 shares in the last quarter. Finally, Armistice Capital LLC acquired a new position in shares of Assembly Biosciences during the second quarter worth about $6,421,000. Institutional investors and hedge funds own 19.92% of the company’s stock.

About Assembly Biosciences

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.