Brokerages Set Absci Co. (NASDAQ:ABSI) Target Price at $8.67

Absci Co. (NASDAQ:ABSI) has been given an average recommendation of “Buy” by the six research firms that are covering the company, MarketBeat Ratings reports. Six research analysts have rated the stock with a buy rating. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $8.67.

Several equities analysts recently weighed in on ABSI shares. Guggenheim restated a “buy” rating and issued a $10.00 price objective on shares of Absci in a report on Tuesday, December 3rd. HC Wainwright reissued a “buy” rating and issued a $7.00 price target on shares of Absci in a research note on Friday, December 13th.

Absci Trading Up 2.4 %

ABSI stock opened at $2.99 on Monday. The company has a quick ratio of 5.63, a current ratio of 5.63 and a debt-to-equity ratio of 0.01. Absci has a twelve month low of $2.45 and a twelve month high of $6.72. The company has a market cap of $343.42 million, a P/E ratio of -3.22 and a beta of 2.02. The business has a fifty day moving average of $3.53 and a 200-day moving average of $3.78.

Absci (NASDAQ:ABSI) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.05). The firm had revenue of $1.70 million for 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%. During the same period in the prior year, the firm posted ($0.24) earnings per share. As a group, equities research analysts expect that Absci will post -0.9 EPS for the current year.

Hedge Funds Weigh In On Absci

A number of hedge funds and other institutional investors have recently made changes to their positions in ABSI. Comerica Bank bought a new stake in shares of Absci in the first quarter worth about $31,000. IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new position in shares of Absci in the 3rd quarter valued at approximately $53,000. Farther Finance Advisors LLC increased its stake in Absci by 119.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 18,876 shares of the company’s stock worth $72,000 after purchasing an additional 10,275 shares in the last quarter. Intech Investment Management LLC acquired a new stake in Absci during the 3rd quarter worth approximately $86,000. Finally, The Manufacturers Life Insurance Company bought a new position in Absci in the second quarter valued at approximately $100,000. 52.05% of the stock is owned by 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.