Citizens Jmp Begins Coverage on Assembly Biosciences (NASDAQ:ASMB)

Key Points

• Analysts at Citizens Jmp have initiated coverage on Assembly Biosciences (NASDAQ:ASMB), setting an "outperform" rating and a price target of $38.00, indicating a potential upside of 46.21% from its previous close.
• Assembly Biosciences recently reported a quarterly EPS of ($1.33), surpassing expectations, with revenue of $9.63 million, exceeding the consensus estimate.
• Hedge funds and institutional investors have increased their positions in Assembly Biosciences, with 19.92% of the company's stock now owned by these entities.

Equities researchers at Citizens Jmp initiated coverage on shares of Assembly Biosciences (NASDAQ:ASMB - Get Free Report) in a research report issued on Wednesday, MarketBeat.com reports. The firm set a "mkt outperform" rating and a $38.00 price target on the biopharmaceutical company's stock. Citizens Jmp's price objective points to a potential upside of 46.21% from the company's current price.

Several other brokerages have also recently weighed in on ASMB. HC Wainwright assumed coverage on Assembly Biosciences in a research note on Monday, August 18th. They issued a "buy" rating and a $50.00 price target on the stock. Guggenheim boosted their target price on Assembly Biosciences from $31.00 to $39.00 and gave the stock a "buy" rating in a report on Monday, September 8th. Finally, Zacks Research raised Assembly Biosciences to a "hold" rating in a report on Tuesday, August 19th. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, Assembly Biosciences currently has a consensus rating of "Moderate Buy" and an average price target of $42.33.

Assembly Biosciences Trading Up 4.9%

Shares of NASDAQ ASMB opened at $25.99 on Wednesday. The stock has a market cap of $199.40 million, a price-to-earnings ratio of -4.66 and a beta of 0.67. Assembly Biosciences has a 1-year low of $7.75 and a 1-year high of $27.17. The stock's 50-day moving average is $22.38 and its 200 day moving average is $16.46.

Assembly Biosciences (NASDAQ:ASMB - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The biopharmaceutical company reported ($1.33) EPS for the quarter, topping analysts' consensus estimates of ($1.73) by $0.40. The business had revenue of $9.63 million for the quarter, compared to analysts' expectations 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, analysts forecast that Assembly Biosciences will post -6.87 EPS for the current fiscal year.

Hedge Funds Weigh In On Assembly Biosciences

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. American Century Companies Inc. bought a new position in Assembly Biosciences during the first quarter valued at approximately $113,000. Palumbo Wealth Management LLC lifted its stake in shares of Assembly Biosciences by 57.4% in the 1st 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 during the last quarter. Acadian Asset Management LLC lifted its stake in shares of Assembly Biosciences by 42.1% in the 1st quarter. Acadian Asset Management LLC now owns 23,027 shares of the biopharmaceutical company's stock valued at $219,000 after purchasing an additional 6,823 shares during the last quarter. Man Group plc bought a new stake in shares of Assembly Biosciences in the 4th quarter valued at approximately $309,000. Finally, Geode Capital Management LLC lifted its stake in shares of Assembly Biosciences by 6.9% in the 2nd quarter. Geode Capital Management LLC now owns 51,015 shares of the biopharmaceutical company's stock valued at $925,000 after purchasing an additional 3,312 shares during the last quarter. 19.92% of the stock is owned by 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.