Citizens Jmp Initiates Coverage on Assembly Biosciences (NASDAQ:ASMB)

Citizens Jmp started coverage on shares of Assembly Biosciences (NASDAQ:ASMB) in a report published on Wednesday, Marketbeat.com reports. The firm issued a mkt outperform rating and a $38.00 target price on the biopharmaceutical company’s stock.

A number of other research firms have also recently weighed in on ASMB. HC Wainwright started coverage on Assembly Biosciences in a research report on Monday, August 18th. They set a “buy” rating and a $50.00 price objective for the company. Guggenheim upped their price target on Assembly Biosciences from $31.00 to $39.00 and gave the stock a “buy” rating in a research note on Monday, September 8th. Finally, Zacks Research raised Assembly Biosciences to a “hold” rating in a report on Tuesday, August 19th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $41.25.

Assembly Biosciences Stock Performance

Shares of Assembly Biosciences stock opened at $25.66 on Wednesday. The company has a market capitalization of $196.81 million, a P/E ratio of -4.60 and a beta of 0.68. Assembly Biosciences has a 1 year low of $7.75 and a 1 year high of $27.17. The company’s fifty day moving average is $22.51 and its two-hundred day moving average is $16.52.

Assembly Biosciences (NASDAQ:ASMB) last announced its earnings results on Wednesday, August 6th. The biopharmaceutical company reported ($1.33) EPS for the quarter, beating analysts’ consensus estimates of ($1.73) by $0.40. Assembly Biosciences had a negative net margin of 117.20% and a negative return on equity of 149.01%. The business had revenue of $9.63 million during the quarter, compared to analysts’ expectations of $5.30 million. As a group, equities analysts expect that Assembly Biosciences will post -6.87 earnings per share for the current year.

Institutional Investors Weigh In On Assembly Biosciences

Institutional investors have recently made changes to their positions in the stock. American Century Companies Inc. purchased a new position in shares of Assembly Biosciences in the 1st quarter valued at about $113,000. Man Group plc purchased a new stake in Assembly Biosciences during the fourth quarter worth about $309,000. Palumbo Wealth Management LLC grew its position in Assembly Biosciences by 57.4% during the first quarter. Palumbo Wealth Management LLC now owns 17,986 shares of the biopharmaceutical company’s stock worth $172,000 after buying an additional 6,559 shares during the period. Geode Capital Management LLC increased its holdings in Assembly Biosciences by 6.9% in the second quarter. Geode Capital Management LLC now owns 51,015 shares of the biopharmaceutical company’s stock valued at $925,000 after buying an additional 3,312 shares in the last quarter. Finally, Acadian Asset Management LLC increased its holdings in Assembly Biosciences by 42.1% in the first quarter. Acadian Asset Management LLC now owns 23,027 shares of the biopharmaceutical company’s stock valued at $219,000 after buying an additional 6,823 shares in the last quarter. 19.92% of the stock is currently owned by hedge funds and other institutional investors.

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.