Assembly Biosciences (NASDAQ:ASMB) Given New $39.00 Price Target at Guggenheim

Key Points

• Guggenheim has raised the price target for Assembly Biosciences (NASDAQ: ASMB) from $31.00 to $39.00, indicating a potential upside of 63.88%.
• The company recently reported a quarterly earnings per share of ($1.33), surpassing analysts' expectations by $0.40.
• Assembly Biosciences currently holds a consensus rating of "Moderate Buy" with a target price of $41.33.

Assembly Biosciences (NASDAQ:ASMB - Get Free Report) had its price objective raised by research analysts at Guggenheim from $31.00 to $39.00 in a report released on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the biopharmaceutical company's stock. Guggenheim's target price would indicate a potential upside of 63.88% from the stock's current price.

A number of other research analysts have also recently issued reports on the company. Zacks Research raised Assembly Biosciences to a "hold" rating in a research note on Tuesday, August 19th. HC Wainwright initiated coverage on shares of Assembly Biosciences in a report on Monday, August 18th. They issued a "buy" rating and a $50.00 price objective for the company. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Assembly Biosciences has a consensus rating of "Moderate Buy" and a consensus target price of $41.33.

Assembly Biosciences Stock Performance

Shares of ASMB stock opened at $23.80 on Monday. Assembly Biosciences has a 52-week low of $7.75 and a 52-week high of $27.17. The company has a market capitalization of $182.53 million, a PE ratio of -4.26 and a beta of 0.67. The business's fifty day moving average is $21.32 and its 200 day moving average is $15.61.

Assembly Biosciences (NASDAQ:ASMB - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The biopharmaceutical company reported ($1.33) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.73) by $0.40. The company had revenue of $9.63 million for the quarter, compared to the consensus estimate of $5.30 million. Assembly Biosciences had a negative return on equity of 149.01% and a negative net margin of 117.20%. On average, sell-side analysts forecast that Assembly Biosciences will post -6.87 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Man Group plc purchased a new stake in shares of Assembly Biosciences during the fourth quarter worth about $309,000. Palumbo Wealth Management LLC grew its holdings in shares of Assembly Biosciences by 57.4% in the first quarter. Palumbo Wealth Management LLC now owns 17,986 shares of the biopharmaceutical company's stock valued at $172,000 after purchasing an additional 6,559 shares in the last quarter. American Century Companies Inc. acquired a new position in shares of Assembly Biosciences in the first quarter valued at approximately $113,000. Acadian Asset Management LLC grew its holdings in Assembly Biosciences by 42.1% during the 1st quarter. Acadian Asset Management LLC now owns 23,027 shares of the biopharmaceutical company's stock worth $219,000 after acquiring an additional 6,823 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Assembly Biosciences by 6.9% during the 2nd quarter. Geode Capital Management LLC now owns 51,015 shares of the biopharmaceutical company's stock worth $925,000 after buying an additional 3,312 shares during the last quarter. Hedge funds and other institutional investors own 19.92% of the company's stock.

About Assembly Biosciences

Assembly Biosciences, Inc, a biotechnology company, develops therapeutic candidates for the treatment of viral diseases. It develops ABI-5366, a long-acting herpes simplex virus (HSV) helicase-primase inhibitor that is in Phase 1a/1b clinical trial to treat recurrent genital herpes; ABI-1179, which is in Phase 1a/1b clinical trial for the treatment of recurrent genital herpes; and ABI-6250, a small molecule orally bioavailable hepatitis delta virus entry inhibitor that is in Phase 1a clinical trial.

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