Absci (NASDAQ:ABSI) Rating Increased to Hold at Wall Street Zen

Key Points

• Wall Street Zen upgraded Absci from “sell” to “hold”, adding to an already bullish analyst backdrop. The stock now carries a Moderate Buy consensus with an average price target of $12.57.
• Absci stock rose 6.6% and opened at $10.88, near its 52-week high of $11.36. The company’s market cap is about $1.70 billion.
• Recent earnings showed Absci posted a smaller-than-expected loss of ($0.19) per share, but revenue came in well below estimates. The company remains unprofitable, and analysts expect -0.72 EPS for the current fiscal year.

Absci (NASDAQ:ABSI - Get Free Report) was upgraded by analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a report issued on Saturday.

Several other equities analysts have also issued reports on ABSI. Morgan Stanley reissued a "positive" rating and issued a $10.00 price target on shares of Absci in a report on Thursday. Leerink Partners assumed coverage on Absci in a research note on Thursday, June 4th. They set an "outperform" rating and a $12.00 price objective on the stock. HC Wainwright lifted their target price on Absci from $8.00 to $16.00 and gave the stock a "buy" rating in a report on Thursday. Guggenheim boosted their target price on Absci from $10.00 to $15.00 and gave the company a "buy" rating in a research note on Monday, June 15th. Finally, Truist Financial increased their price target on Absci from $9.00 to $11.00 and gave the stock a "buy" rating in a report on Friday, May 8th. Eight equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $12.57.

Absci Stock Up 6.6%

Shares of Absci stock opened at $10.88 on Friday. The business has a fifty day simple moving average of $5.96 and a 200 day simple moving average of $4.06. The stock has a market cap of $1.70 billion, a PE ratio of -13.11 and a beta of 2.44. Absci has a 12 month low of $2.24 and a 12 month high of $11.36.

Absci (NASDAQ:ABSI - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.01. The business had revenue of $0.21 million for the quarter, compared to analyst estimates of $1.39 million. Absci had a negative net margin of 6,450.76% and a negative return on equity of 66.32%. Analysts expect that Absci will post -0.72 EPS for the current fiscal year.

Institutional Investors Weigh In On Absci

A number of hedge funds and other institutional investors have recently made changes to their positions in ABSI. Essential Partners LLC lifted its position in Absci by 113,850.0% in the 1st quarter. Essential Partners LLC now owns 9,116 shares of the company's stock valued at $27,000 after acquiring an additional 9,108 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Absci by 55.2% in the 1st quarter. Bank of America Corp DE now owns 487,193 shares of the company's stock valued at $1,462,000 after purchasing an additional 173,361 shares during the period. Royal Bank of Canada lifted its holdings in shares of Absci by 29.7% in the first quarter. Royal Bank of Canada now owns 175,085 shares of the company's stock valued at $525,000 after purchasing an additional 40,111 shares in the last quarter. Siren L.L.C. bought a new stake in shares of Absci in the first quarter valued at about $5,400,000. Finally, Principal Financial Group Inc. acquired a new position in shares of Absci during the first quarter worth about $31,000. 52.05% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about Absci

Here are the key news stories impacting Absci this week:

• Positive Sentiment: Absci reported positive interim Phase I data for ABS-201, with tolerability and dosing characteristics that strengthen the case for further development. ABSI Soars 36% on Positive Interim Update From Phase I Hair Loss Study
• Positive Sentiment: Sentiment remains constructive, with analysts describing the stock as a “Moderate Buy,” which can support momentum after the recent run-up. Absci Corporation Given Consensus Rating of Moderate Buy by Analysts
• Positive Sentiment: The stock has also been highlighted after reaching a fresh 52-week high, reinforcing the strength of the recent rally. Absci Reaches New 52-Week High
• Neutral Sentiment: Some coverage notes conflicting analyst views on Absci, suggesting the market may remain volatile as investors weigh the drug pipeline against execution risk. Analysts Have Conflicting Sentiments on These Healthcare Companies
• Neutral Sentiment: Another brief report also pointed to mixed analyst sentiment, underscoring that the stock’s move is being driven more by pipeline news than by fundamental consensus. Analysts Have Conflicting Sentiments on These Healthcare Companies
• Negative Sentiment: One commentary warned that recent earnings estimate revisions do not suggest much additional near-term upside, which could temper expectations after the sharp rally. ABSCI CORP Soars 36.0%: Is Further Upside Left in the Stock?

Absci Company Profile

Absci Corporation NASDAQ: ABSI is a biotechnology company that applies machine learning, synthetic biology and automation to accelerate the discovery and development of protein-based therapeutics. The company's Integrated Drug Creation® (IDC®) platform is designed to identify and produce novel antibody and enzyme candidates at speeds and scales that traditional biopharma discovery methods cannot match. Absci works with pharmaceutical and biotechnology partners to generate, screen and optimize protein molecules for a wide range of therapeutic applications.

The core of Absci's offering is its end-to-end discovery engine, which combines proprietary algorithms, high-throughput laboratory automation and a deep learning framework.

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