HC Wainwright Issues Pessimistic Estimate for Absci Earnings

Absci Co. (NASDAQ:ABSI) – Analysts at HC Wainwright decreased their FY2024 earnings per share (EPS) estimates for shares of Absci in a research report issued on Wednesday, November 13th. HC Wainwright analyst S. Ramakanth now anticipates that the company will post earnings per share of ($0.93) for the year, down from their prior estimate of ($0.79). HC Wainwright currently has a “Buy” rating and a $7.00 target price on the stock. The consensus estimate for Absci’s current full-year earnings is ($0.80) per share. HC Wainwright also issued estimates for Absci’s Q4 2024 earnings at ($0.25) EPS, Q1 2025 earnings at ($0.19) EPS, Q2 2025 earnings at ($0.20) EPS, Q3 2025 earnings at ($0.10) EPS, Q4 2025 earnings at ($0.20) EPS, FY2025 earnings at ($0.69) EPS, FY2026 earnings at ($0.56) EPS, FY2027 earnings at ($0.25) EPS and FY2028 earnings at $0.22 EPS.

Absci (NASDAQ:ABSI) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.05). Absci had a negative net margin of 2,321.56% and a negative return on equity of 46.56%. The company had revenue of $1.70 million for the quarter, compared to the consensus estimate of $1.77 million. During the same quarter last year, the company earned ($0.24) EPS.

Separately, Guggenheim started coverage on Absci in a research note on Wednesday, October 2nd. They set a “buy” rating and a $10.00 price target for the company. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $8.67.

Absci Stock Performance

ABSI stock opened at $2.84 on Friday. The company has a market cap of $326.19 million, a P/E ratio of -3.05 and a beta of 2.18. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.63 and a quick ratio of 6.49. Absci has a 1 year low of $1.33 and a 1 year high of $6.72. The stock’s fifty day moving average price is $3.91 and its 200-day moving average price is $4.06.

Institutional Trading of Absci

A number of hedge funds and other institutional investors have recently modified their holdings of ABSI. Comerica Bank bought a new stake in Absci in the first quarter worth $31,000. SG Americas Securities LLC bought a new stake in shares of Absci in the 1st quarter worth about $63,000. Avantax Advisory Services Inc. bought a new position in shares of Absci in the 1st quarter valued at about $71,000. IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new position in Absci in the third quarter worth about $53,000. Finally, Farther Finance Advisors LLC increased its stake in Absci by 119.5% during the third quarter. Farther Finance Advisors LLC now owns 18,876 shares of the company’s stock worth $72,000 after acquiring an additional 10,275 shares during the last quarter. 52.05% of the stock is owned by hedge funds and other institutional investors.

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.