Equities Analysts Issue Forecasts for Absci FY2024 Earnings

Absci Co. (NASDAQ:ABSI) – Research analysts at HC Wainwright lowered their FY2024 earnings per share (EPS) estimates for Absci in a note issued to investors on Wednesday, November 13th. HC Wainwright analyst S. Ramakanth now anticipates that the company will post earnings of ($0.93) per share for the year, down from their previous forecast of ($0.79). HC Wainwright currently has a “Buy” rating and a $7.00 target price on the stock. The consensus estimate for Absci’s current full-year earnings is ($0.80) per share. HC Wainwright also issued estimates for Absci’s Q4 2024 earnings at ($0.25) EPS, Q1 2025 earnings at ($0.19) EPS, Q2 2025 earnings at ($0.20) EPS, Q3 2025 earnings at ($0.10) EPS, Q4 2025 earnings at ($0.20) EPS, FY2025 earnings at ($0.69) EPS, FY2026 earnings at ($0.56) EPS, FY2027 earnings at ($0.25) EPS and FY2028 earnings at $0.22 EPS.

Separately, Guggenheim started coverage on Absci in a report on Wednesday, October 2nd. They set a “buy” rating and a $10.00 price target on the stock. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $8.67.

Absci Trading Down 4.0 %

Shares of ABSI stock opened at $3.02 on Friday. The company has a current ratio of 6.49, a quick ratio of 6.49 and a debt-to-equity ratio of 0.01. Absci has a 12-month low of $1.29 and a 12-month high of $6.72. The stock has a market capitalization of $342.38 million, a P/E ratio of -3.24 and a beta of 2.18. The firm’s 50 day moving average is $3.94 and its 200 day moving average is $4.07.

Absci (NASDAQ:ABSI) last posted its earnings results on Tuesday, November 12th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.05). Absci had a negative net margin of 2,321.56% and a negative return on equity of 45.94%. The company had revenue of $1.70 million for the quarter, compared to the consensus estimate of $1.77 million. During the same quarter in the prior year, the company posted ($0.24) EPS.

Institutional Trading of Absci

Hedge funds and other institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC bought a new stake in shares of Absci during the 1st quarter valued at $63,000. Avantax Advisory Services Inc. purchased a new position in shares of Absci in the first quarter valued at about $71,000. Vanguard Group Inc. boosted its stake in shares of Absci by 33.7% in the first quarter. Vanguard Group Inc. now owns 3,445,272 shares of the company’s stock worth $19,569,000 after acquiring an additional 869,131 shares during the period. EntryPoint Capital LLC bought a new stake in Absci during the 1st quarter valued at approximately $244,000. Finally, Affinity Asset Advisors LLC purchased a new position in Absci in the 1st quarter worth approximately $5,822,000. Hedge funds and other institutional investors own 52.05% of the company’s stock.

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.