Absci (NASDAQ:ABSI) Given "Buy" Rating at HC Wainwright

HC Wainwright restated their buy rating on shares of Absci (NASDAQ:ABSI - Free Report) in a report released on Wednesday morning,Benzinga reports. The firm currently has a $7.00 target price on the stock. HC Wainwright also issued estimates for Absci's Q1 2025 earnings at ($0.27) EPS, Q2 2025 earnings at ($0.28) EPS, Q4 2025 earnings at ($0.18) EPS, FY2025 earnings at ($0.83) EPS, FY2026 earnings at ($0.52) EPS, FY2027 earnings at ($0.31) EPS, FY2028 earnings at $0.20 EPS and FY2029 earnings at ($0.02) EPS.

Several other analysts have also recently commented on ABSI. Needham & Company LLC restated a "buy" rating and set a $9.00 target price on shares of Absci in a report on Wednesday. KeyCorp decreased their target price on Absci from $6.00 to $5.00 and set an "overweight" rating on the stock in a report on Wednesday, January 8th. Finally, Guggenheim reiterated a "buy" rating and issued a $10.00 price target on shares of Absci in a report on Tuesday, December 3rd. Seven analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $8.57.

Absci Price Performance

Absci stock traded down $0.03 during mid-day trading on Wednesday, hitting $3.01. 3,204,118 shares of the company were exchanged, compared to its average volume of 2,393,674. The company has a quick ratio of 5.63, a current ratio of 5.63 and a debt-to-equity ratio of 0.01. The business has a fifty day moving average of $3.86 and a 200 day moving average of $3.66. Absci has a 1-year low of $2.45 and a 1-year high of $6.72. The company has a market capitalization of $383.28 million, a PE ratio of -3.24 and a beta of 2.09.

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Absci (NASDAQ:ABSI - Get Free Report) last released its quarterly earnings data on Tuesday, March 18th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.03). Absci had a negative return on equity of 46.56% and a negative net margin of 2,321.56%. The company had revenue of $0.67 million for the quarter, compared to analyst estimates of $1.77 million. As a group, sell-side analysts expect that Absci will post -0.89 earnings per share for the current year.

Hedge Funds Weigh In On Absci

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. PCA Investment Advisory Services Inc. bought a new position in Absci during the fourth quarter worth about $26,000. Alpha Cubed Investments LLC bought a new position in Absci during the fourth quarter worth about $26,000. Ballentine Partners LLC acquired a new stake in shares of Absci during the fourth quarter worth about $27,000. BNP Paribas Financial Markets acquired a new stake in shares of Absci during the fourth quarter worth about $28,000. Finally, Verdence Capital Advisors LLC acquired a new position in shares of Absci during the 4th quarter worth approximately $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.