Absci (NASDAQ:ABSI) Issues Quarterly Earnings Results

Absci (NASDAQ:ABSI) posted its quarterly earnings results on Tuesday. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.05), Zacks reports. The company had revenue of $1.70 million during the quarter, compared to analyst estimates of $1.77 million. Absci had a negative return on equity of 45.94% and a negative net margin of 2,321.56%. During the same quarter in the previous year, the business posted ($0.24) earnings per share.

Absci Price Performance

Shares of NASDAQ:ABSI opened at $3.14 on Thursday. The company has a 50-day moving average price of $3.96 and a two-hundred day moving average price of $4.08. Absci has a twelve month low of $1.28 and a twelve month high of $6.72. The company has a quick ratio of 6.49, a current ratio of 6.49 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $356.58 million, a PE ratio of -3.38 and a beta of 2.18.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. HC Wainwright reaffirmed a “buy” rating and set a $7.00 target price on shares of Absci in a research report on Wednesday. Guggenheim started coverage on shares of Absci in a research note on Wednesday, October 2nd. They issued a “buy” rating and a $10.00 price objective for the company. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Absci presently has an average rating of “Buy” and an average target price of $8.67.

About Absci

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.