Absci (NASDAQ:ABSI – Get Free Report) released its quarterly earnings data on Tuesday. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.05), Zacks reports. Absci had a negative net margin of 2,838.89% and a negative return on equity of 44.24%. The business had revenue of $1.70 million during the quarter, compared to analyst estimates of $1.77 million. During the same quarter in the prior year, the company posted ($0.24) earnings per share.
Absci Price Performance
ABSI traded down $0.08 during midday trading on Wednesday, reaching $3.56. 592,938 shares of the company’s stock were exchanged, compared to its average volume of 1,319,122. Absci has a 1-year low of $1.28 and a 1-year high of $6.72. The stock has a market capitalization of $404.27 million, a PE ratio of -4.08 and a beta of 2.18. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.49 and a quick ratio of 6.49. The business’s 50-day moving average price is $3.98 and its 200 day moving average price is $4.08.
Analyst Upgrades and Downgrades
Several analysts recently weighed in on the stock. HC Wainwright reiterated a “buy” rating and issued a $7.00 target price on shares of Absci in a report on Thursday, August 15th. Guggenheim started coverage on Absci in a research report on Wednesday, October 2nd. They set a “buy” rating and a $10.00 target price on the stock. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Absci currently has a consensus rating of “Buy” and an average target price of $8.67.
About Absci
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.
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