HC Wainwright Reaffirms Buy Rating for Assembly Biosciences (NASDAQ:ASMB)

Key Points

• HC Wainwright has reaffirmed a buy rating for Assembly Biosciences (NASDAQ:ASMB) with a target price of $50.00, indicating potential upside of 80.77% from its current price.
• Analysts have mixed views on the stock, with five analysts rating it as a Buy, one as a Hold, and one as a Sell, leading to a consensus rating of Moderate Buy and an average price target of $41.25.
• Assembly Biosciences recently reported earnings of ($1.33) EPS, exceeding estimates, with substantial revenue of $9.63 million during the quarter.

Assembly Biosciences (NASDAQ:ASMB - Get Free Report)'s stock had its "buy" rating reaffirmed by stock analysts at HC Wainwright in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $50.00 target price on the biopharmaceutical company's stock. HC Wainwright's price target suggests a potential upside of 80.77% from the stock's current price.

Other research analysts have also recently issued research reports about the company. Zacks Research upgraded Assembly Biosciences to a "hold" rating in a research note on Tuesday, August 19th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Assembly Biosciences in a research report on Wednesday, October 8th. Guggenheim raised their price objective on Assembly Biosciences from $31.00 to $39.00 and gave the company a "buy" rating in a research report on Monday, September 8th. JMP Securities began coverage on Assembly Biosciences in a research report on Wednesday, September 24th. They set a "market outperform" rating and a $38.00 price objective for the company. Finally, Citizens Jmp began coverage on Assembly Biosciences in a research report on Wednesday, September 24th. They set an "outperform" rating and a $38.00 price objective for the company. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Assembly Biosciences has a consensus rating of "Moderate Buy" and an average price target of $41.25.

Assembly Biosciences Stock Performance

NASDAQ ASMB opened at $27.66 on Tuesday. Assembly Biosciences has a fifty-two week low of $7.75 and a fifty-two week high of $28.00. The stock has a 50 day simple moving average of $24.21 and a two-hundred day simple moving average of $17.89. The stock has a market cap of $212.15 million, a P/E ratio of -4.96 and a beta of 0.60.

Assembly Biosciences (NASDAQ:ASMB - Get Free Report) last released its earnings results on Wednesday, August 6th. The biopharmaceutical company reported ($1.33) EPS for the quarter, beating analysts' consensus estimates of ($1.73) by $0.40. The company had revenue of $9.63 million during 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%. Sell-side analysts predict that Assembly Biosciences will post -6.87 earnings per share for the current year.

Institutional Trading of Assembly Biosciences

Large investors have recently modified their holdings of the company. American Century Companies Inc. bought a new stake in shares of Assembly Biosciences in the first quarter worth $113,000. Palumbo Wealth Management LLC grew its holdings in Assembly Biosciences by 57.4% during 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 during the period. Acadian Asset Management LLC grew 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 valued at $219,000 after purchasing an additional 6,823 shares during the period. Finally, Geode Capital Management LLC grew 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 valued at $925,000 after purchasing an additional 3,312 shares during the period. Institutional investors own 19.92% of the company's stock.

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.

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