Assembly Biosciences (NASDAQ:ASMB) Issues Quarterly Earnings Results

Assembly Biosciences (NASDAQ:ASMB) announced its quarterly earnings results on Monday. The biopharmaceutical company reported ($0.72) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.50) by ($0.22), Zacks reports. The business had revenue of $10.79 million for the quarter, compared to analyst estimates of $7.46 million. Assembly Biosciences had a negative return on equity of 149.01% and a negative net margin of 117.20%.

Assembly Biosciences Price Performance

Shares of ASMB opened at $33.13 on Wednesday. The firm’s 50 day moving average is $26.62 and its 200-day moving average is $21.02. Assembly Biosciences has a 12-month low of $7.75 and a 12-month high of $33.26. The stock has a market capitalization of $254.17 million, a P/E ratio of -5.94 and a beta of 0.60.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ASMB. Acadian Asset Management LLC lifted its position in shares of Assembly Biosciences by 42.1% during the 1st quarter. Acadian Asset Management LLC now owns 23,027 shares of the biopharmaceutical company’s stock valued at $219,000 after acquiring an additional 6,823 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of 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 last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Assembly Biosciences by 97.8% during the third quarter. Vanguard Group Inc. now owns 502,112 shares of the biopharmaceutical company’s stock valued at $12,854,000 after purchasing an additional 248,287 shares during the last quarter. Institutional investors own 19.92% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Guggenheim upped their price objective on shares of Assembly Biosciences from $31.00 to $39.00 and gave the stock a “buy” rating in a report on Monday, September 8th. HC Wainwright restated a “buy” rating and set a $50.00 price target on shares of Assembly Biosciences in a research report on Tuesday, October 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Assembly Biosciences in a report on Wednesday, October 8th. JMP Securities assumed coverage on shares of Assembly Biosciences in a research note on Wednesday, September 24th. They set a “market outperform” rating and a $38.00 price objective on the stock. Finally, Citigroup assumed coverage on Assembly Biosciences in a report on Wednesday, September 24th. They set an “outperform” rating on the stock. 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 currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.25.

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.