Assembly Biosciences (NASDAQ:ASMB) Price Target Raised to $39.00

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 target lifted by analysts at Guggenheim from $31.00 to $39.00 in a note issued to investors on Monday, Marketbeat.com reports. The firm currently has a "buy" rating on the biopharmaceutical company's stock. Guggenheim's target price suggests a potential upside of 78.49% from the stock's previous close.

ASMB has been the subject of several other reports. HC Wainwright initiated coverage on shares of Assembly Biosciences in a research note on Monday, August 18th. They issued a "buy" rating and a $50.00 price target for the company. Zacks Research raised shares of Assembly Biosciences to a "hold" rating in a research note on Tuesday, August 19th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $41.33.

Assembly Biosciences Price Performance

NASDAQ ASMB traded down $0.74 during mid-day trading on Monday, reaching $21.85. 67,503 shares of the stock were exchanged, compared to its average volume of 145,037. Assembly Biosciences has a one year low of $7.75 and a one year high of $27.17. The stock has a 50 day simple moving average of $21.78 and a 200-day simple moving average of $15.92. The stock has a market cap of $167.59 million, a P/E ratio of -3.92 and a beta of 0.68.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its holdings in Assembly Biosciences by 6.9% during the second quarter. Geode Capital Management LLC now owns 51,015 shares of the biopharmaceutical company's stock worth $925,000 after purchasing an additional 3,312 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in Assembly Biosciences by 42.1% during the first quarter. Acadian Asset Management LLC now owns 23,027 shares of the biopharmaceutical company's stock worth $219,000 after purchasing an additional 6,823 shares during the last quarter. Man Group plc purchased a new position in Assembly Biosciences during the fourth quarter worth about $309,000. Palumbo Wealth Management LLC boosted its holdings in Assembly Biosciences by 3.8% during the second quarter. Palumbo Wealth Management LLC now owns 18,667 shares of the biopharmaceutical company's stock worth $338,000 after purchasing an additional 681 shares during the last quarter. Finally, American Century Companies Inc. purchased a new position in Assembly Biosciences during the first quarter worth about $113,000. 19.92% of the stock is currently owned by hedge funds and other institutional investors.

Assembly Biosciences Company Profile

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.