Guggenheim Reiterates Buy Rating for Absci (NASDAQ:ABSI)

Absci (NASDAQ:ABSI)‘s stock had its “buy” rating restated by research analysts at Guggenheim in a note issued to investors on Thursday,Benzinga reports. They currently have a $10.00 target price on the stock. Guggenheim’s price target indicates a potential upside of 232.23% from the stock’s previous close.

A number of other analysts also recently weighed in on the stock. HC Wainwright reissued a “buy” rating and set a $7.00 target price on shares of Absci in a research report on Wednesday. Needham & Company LLC reaffirmed a “buy” rating and set a $9.00 price objective on shares of Absci in a research report on Wednesday. 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 report on Wednesday, January 8th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $8.57.

Absci Stock Performance

NASDAQ:ABSI opened at $3.01 on Thursday. The company has a market capitalization of $383.28 million, a PE ratio of -3.24 and a beta of 2.09. The company has a 50 day simple moving average of $3.86 and a two-hundred day simple moving average of $3.66. 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 has a fifty-two week low of $2.45 and a fifty-two week high of $6.72.

Absci (NASDAQ:ABSI) last released its earnings results on Tuesday, March 18th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.03). The firm had revenue of $0.67 million for the quarter, compared to analyst estimates of $1.77 million. Absci had a negative net margin of 2,321.56% and a negative return on equity of 46.56%. Research analysts anticipate that Absci will post -0.89 earnings per share for the current year.

Institutional Trading of Absci

Several hedge funds and other institutional investors have recently bought and sold shares of ABSI. PCA Investment Advisory Services Inc. purchased a new stake in shares of Absci during the fourth quarter valued at approximately $26,000. Alpha Cubed Investments LLC purchased a new stake in shares of Absci during the fourth quarter valued at approximately $26,000. Ballentine Partners LLC purchased a new stake in shares of Absci during the fourth quarter valued at approximately $27,000. BNP Paribas Financial Markets purchased a new stake in shares of Absci during the fourth quarter valued at approximately $28,000. Finally, Verdence Capital Advisors LLC purchased a new stake in shares of Absci during the fourth quarter valued at approximately $37,000. Hedge funds and other 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.