Assembly Biosciences (NASDAQ:ASMB) Raised to Hold at Zacks Research

Key Points

• Assembly Biosciences has been upgraded to a "hold" rating by Zacks Research, reflecting a positive sentiment towards the stock.
• HC Wainwright initiated coverage with a "buy" rating and a target price of $50.00, while the average price target among analysts is currently $38.67.
• The company's latest quarterly earnings showed a stronger than expected performance, with reported revenue of $9.63 million surpassing analysts' expectations of $5.30 million.

Zacks Research upgraded shares of Assembly Biosciences (NASDAQ:ASMB - Free Report) to a hold rating in a research report report published on Tuesday,Zacks.com reports.

Separately, HC Wainwright began 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. Three 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, Assembly Biosciences currently has an average rating of "Moderate Buy" and an average target price of $38.67.

Assembly Biosciences Stock Performance

Shares of NASDAQ:ASMB traded up $0.28 during trading on Tuesday, hitting $26.93. The company's stock had a trading volume of 101,414 shares, compared to its average volume of 122,644. The business has a 50 day moving average price of $19.80 and a two-hundred day moving average price of $14.77. The company has a market capitalization of $206.61 million, a PE ratio of -4.83 and a beta of 0.64. Assembly Biosciences has a fifty-two week low of $7.75 and a fifty-two week high of $27.17.

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

Hedge Funds Weigh In On Assembly Biosciences

A number of institutional investors and hedge funds have recently modified their holdings of ASMB. JPMorgan Chase & Co. grew its stake in shares of Assembly Biosciences by 225.6% during the fourth quarter. JPMorgan Chase & Co. now owns 11,427 shares of the biopharmaceutical company's stock worth $180,000 after purchasing an additional 7,918 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of Assembly Biosciences by 44.3% during the fourth quarter. Renaissance Technologies LLC now owns 94,711 shares of the biopharmaceutical company's stock worth $1,495,000 after purchasing an additional 29,087 shares in the last quarter. Marshall Wace LLP grew its stake in shares of Assembly Biosciences by 16.5% during the fourth quarter. Marshall Wace LLP now owns 14,823 shares of the biopharmaceutical company's stock worth $234,000 after purchasing an additional 2,098 shares in the last quarter. Man Group plc acquired a new position in shares of Assembly Biosciences during the fourth quarter worth $309,000. Finally, Palumbo Wealth Management LLC grew its stake in shares of Assembly Biosciences by 57.4% during the first quarter. Palumbo Wealth Management LLC now owns 17,986 shares of the biopharmaceutical company's stock worth $172,000 after purchasing an additional 6,559 shares in the last quarter. Institutional investors and hedge funds 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.