HC Wainwright Reiterates “Buy” Rating for Absci (NASDAQ:ABSI)

Absci (NASDAQ:ABSI)‘s stock had its “buy” rating restated by stock analysts at HC Wainwright in a research report issued on Wednesday,Benzinga reports. They currently have a $7.00 price target on the stock. HC Wainwright’s price target suggests a potential upside of 130.26% from the company’s current price.

Several other research firms also recently commented on ABSI. Needham & Company LLC restated a “buy” rating and issued a $9.00 price objective on shares of Absci in a research note on Wednesday. Guggenheim restated a “buy” rating and issued a $10.00 price objective on shares of Absci in a research note on Tuesday, December 3rd. Finally, KeyCorp reduced their price objective on shares of Absci from $6.00 to $5.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Absci has a consensus rating of “Buy” and a consensus target price of $8.57.

Absci Stock Performance

Shares of ABSI opened at $3.04 on Wednesday. The company’s 50 day moving average price is $3.86 and its 200 day moving average price is $3.67. Absci has a 52 week low of $2.45 and a 52 week high of $6.72. The company has a market capitalization of $349.16 million, a PE ratio of -3.27 and a beta of 2.09. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.63 and a current ratio of 5.63.

Absci (NASDAQ:ABSI) last posted its 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 the consensus estimate of $1.77 million. Absci had a negative return on equity of 46.56% and a negative net margin of 2,321.56%. Research analysts expect that Absci will post -0.89 EPS for the current fiscal year.

Institutional Investors Weigh In On Absci

Institutional investors and hedge funds have recently bought and sold shares of the business. PCA Investment Advisory Services Inc. bought a new stake in shares of Absci in the 4th quarter worth about $26,000. Alpha Cubed Investments LLC bought a new stake in shares of Absci in the 4th quarter worth about $26,000. Ballentine Partners LLC bought a new stake in shares of Absci in the 4th quarter worth about $27,000. BNP Paribas Financial Markets bought a new stake in shares of Absci in the 4th quarter worth about $28,000. Finally, Verdence Capital Advisors LLC bought a new stake in shares of Absci in the 4th quarter worth about $37,000. Institutional investors own 52.05% of the company’s stock.

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.