Brokerages Set Absci Co. (NASDAQ:ABSI) Target Price at $8.67

Shares of Absci Co. (NASDAQ:ABSI) have been assigned an average rating of “Buy” from the six ratings firms that are currently covering the stock, Marketbeat Ratings reports. Six research analysts have rated the stock with a buy recommendation. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $8.67.

A number of analysts have issued reports on the company. Guggenheim started coverage on Absci in a research note on Wednesday, October 2nd. They issued a “buy” rating and a $10.00 price target on the stock. KeyCorp lowered their target price on shares of Absci from $8.00 to $6.00 and set an “overweight” rating for the company in a report on Thursday, July 11th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $7.00 price target on shares of Absci in a research note on Thursday, August 15th.

Absci Stock Performance

NASDAQ:ABSI opened at $3.92 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.49 and a quick ratio of 6.49. The firm has a market cap of $445.16 million, a PE ratio of -4.22 and a beta of 2.19. The firm has a 50 day simple moving average of $4.02 and a 200-day simple moving average of $4.12. Absci has a 1-year low of $1.18 and a 1-year high of $6.72.

Absci (NASDAQ:ABSI) last issued its quarterly earnings results on Wednesday, August 14th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.03). Absci had a negative net margin of 2,838.89% and a negative return on equity of 44.24%. The business had revenue of $1.27 million during the quarter, compared to analyst estimates of $2.05 million. During the same quarter last year, the firm posted ($0.27) earnings per share. On average, equities analysts expect that Absci will post -0.8 EPS for the current year.

Institutional Investors Weigh In On Absci

Institutional investors have recently bought and sold shares of the business. Comerica Bank acquired a new position in shares of Absci during the 1st quarter valued at $31,000. D Orazio & Associates Inc. raised its position in Absci by 27.3% in the first quarter. D Orazio & Associates Inc. now owns 28,000 shares of the company’s stock valued at $159,000 after purchasing an additional 6,000 shares during the period. Farther Finance Advisors LLC lifted its stake in shares of Absci by 119.5% during the third quarter. Farther Finance Advisors LLC now owns 18,876 shares of the company’s stock worth $72,000 after purchasing an additional 10,275 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Absci in the first quarter worth about $63,000. Finally, Avantax Advisory Services Inc. acquired a new stake in shares of Absci in the first quarter valued at about $71,000. 52.05% of the stock is currently owned by hedge funds and other institutional investors.

Absci Company Profile

Absci Corporation operates as a data-first generative artificial intelligence (AI) drug creation company in the United States. The company combines AI with scalable wet lab technologies to create biologics for patients. Its integrated drug creation platform is designed to improve upon traditional biologic drug discovery by using AI to simultaneously optimize multiple drug characteristics that may be important to development and therapeutic benefit.