Absci (NASDAQ:ABSI) Stock Price Target Raised at Needham & Company LLC

Absci (NASDAQ:ABSI) had its price objective lifted by Needham & Company LLC from $11.00 to $15.00 in a research note released on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities research analysts have also recently commented on ABSI. Jefferies Financial Group assumed coverage on Absci in a research note on Thursday, October 29th. They issued a “buy” rating and a $14.00 price target for the company. Wall Street Zen upgraded shares of Absci from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Lifesci Capital began coverage on shares of Absci in a report on Wednesday, September 9th. They set an “outperform” rating on the stock. KeyCorp increased their price objective on shares of Absci from $16.00 to $20.00 and gave the company an “overweight” rating in a research report on Friday, October 16th. Finally, Guggenheim reiterated a “buy” rating on shares of Absci in a research note on Monday, September 28th. Eleven analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $15.00.

Absci Trading Down 9.7%

Shares of ABSI opened at $9.14 on Thursday. The firm has a market cap of $1.57 billion, a PE ratio of -11.43 and a beta of 2.22. Absci has a 12 month low of $2.24 and a 12 month high of $12.54. The stock has a fifty day moving average price of $9.66 and a 200-day moving average price of $6.78.

Absci (NASDAQ:ABSI) last announced its earnings results on Thursday, November 12th. The company reported ($0.19) earnings per share for the quarter, hitting the consensus estimate of ($0.19). Absci had a negative return on equity of 61.71% and a negative net margin of 7,756.38%. The firm had revenue of $0.30 million for the quarter, compared to the consensus estimate of $0.66 million. As a group, research analysts forecast that Absci will post -0.76 EPS for the current year.

Hedge Funds Weigh In On Absci

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in Absci during the 2nd quarter worth about $141,112,000. Siren L.L.C. acquired a new position in shares of Absci in the first quarter valued at about $5,400,000. Parkman Healthcare Partners LLC acquired a new position in shares of Absci in the second quarter valued at about $10,366,000. Bank of America Corp DE acquired a new position in shares of Absci in the second quarter valued at about $6,560,000. Finally, Artia Global Partners LP purchased a new position in shares of Absci in the second quarter worth about $5,383,000. Hedge funds and other institutional investors own 52.05% of the company’s stock.

More Absci News

These are some of the ABSI news items that stood out recently:

• Positive Sentiment: The company had $173.7 million in cash, cash equivalents and marketable securities at quarter-end, which it expects to fund operations into the second half of 2028. It also plans to start a Phase 2 ABS-201 trial for endometriosis in mid-2027. Article: Absci Reports Third-Quarter Results
• Neutral Sentiment: Absci appointed Gerry Muhle, a former executive at Galderma, Allergan and GSK, as chief commercial officer. The hire adds commercialization experience, though its impact will depend on progress in the pipeline. Article: Absci Appoints Gerry Muhle as Chief Commercial Officer
• Negative Sentiment: Quarterly revenue was $0.3 million, below the cited $0.66 million consensus estimate, while net loss widened to $33.3 million from $28.7 million a year earlier. The reported $0.19 loss per share met one consensus estimate, although another source said it missed its estimate—adding to the mixed earnings read-through. Article: Absci Reports Q3 Loss, Misses Revenue Estimates

Absci Company Profile

Absci Corporation is a biotechnology company that uses artificial intelligence and laboratory research to discover and develop biologic drugs. Its platform combines generative AI with experimental testing to design and evaluate potential drug candidates, including antibodies and other protein-based medicines. The company also works with pharmaceutical and biotechnology partners on drug discovery programs and advances its own pipeline of potential therapies. Its approach is intended to connect computational design with laboratory validation, helping assess whether designed molecules have useful properties.