Absci (NASDAQ:ABSI) Announces Quarterly Earnings Results

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

Absci Stock Down 13.7 %

Shares of NASDAQ ABSI opened at $3.14 on Thursday. The company has a 50 day simple moving average of $3.96 and a 200 day simple moving average of $4.08. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.49 and a quick ratio of 6.49. Absci has a 1 year low of $1.28 and a 1 year high of $6.72. The firm has a market cap of $356.58 million, a PE ratio of -3.38 and a beta of 2.18.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Guggenheim initiated coverage on shares of Absci in a research note on Wednesday, October 2nd. They issued a “buy” rating and a $10.00 price target on the stock. HC Wainwright restated a “buy” rating and issued a $7.00 target price on shares of Absci in a research report on Wednesday. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $8.67.

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.