Guggenheim Reaffirms “Buy” Rating for Absci (NASDAQ:ABSI)

Guggenheim reiterated their buy rating on shares of Absci (NASDAQ:ABSI) in a report issued on Thursday,Benzinga reports. They currently have a $10.00 price target on the stock.

Several other equities analysts have also weighed in on ABSI. HC Wainwright reaffirmed a “buy” rating and issued a $7.00 price objective on shares of Absci in a research note on Wednesday. Needham & Company LLC reaffirmed a “buy” rating and issued a $9.00 price objective on shares of Absci in a research note on Wednesday. Finally, KeyCorp reduced their price objective on Absci from $6.00 to $5.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $8.57.

Absci Stock Down 1.0 %

ABSI opened at $3.01 on Thursday. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.63 and a quick ratio of 5.63. The stock has a market capitalization of $383.28 million, a price-to-earnings ratio of -3.24 and a beta of 2.09. The business has a 50-day moving average of $3.86 and a two-hundred day moving average of $3.66. Absci has a 12 month low of $2.45 and a 12 month high of $6.72.

Absci (NASDAQ:ABSI) last posted its quarterly earnings results on Tuesday, March 18th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.03). The business had revenue of $0.67 million during the quarter, compared to analysts’ expectations of $1.77 million. Absci had a negative net margin of 2,321.56% and a negative return on equity of 46.56%. On average, research analysts expect that Absci will post -0.89 earnings per share for the current year.

Hedge Funds Weigh In On Absci

Institutional investors have recently made changes to their positions in the business. PCA Investment Advisory Services Inc. purchased a new position in shares of Absci during the 4th quarter valued at approximately $26,000. Alpha Cubed Investments LLC purchased a new position in shares of Absci during the 4th quarter valued at approximately $26,000. Ballentine Partners LLC purchased a new position in shares of Absci during the 4th quarter valued at approximately $27,000. BNP Paribas Financial Markets purchased a new position in shares of Absci during the 4th quarter valued at approximately $28,000. Finally, Verdence Capital Advisors LLC acquired a new stake in shares of Absci during the 4th quarter valued at approximately $37,000. 52.05% of the stock is owned by institutional investors and hedge funds.

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.