Absci (NASDAQ:ABSI) Releases Earnings Results, Misses Expectations By $0.05 EPS

Absci (NASDAQ:ABSI) released its quarterly earnings data on Tuesday. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.05), Zacks reports. The company had revenue of $1.70 million for the quarter, compared to analysts’ expectations 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 period last year, the company posted ($0.24) EPS.

Absci Trading Down 4.0 %

Shares of NASDAQ ABSI opened at $3.02 on Friday. The company has a market cap of $342.38 million, a PE ratio of -3.24 and a beta of 2.18. The firm’s 50 day moving average price is $3.94 and its 200-day moving average price is $4.07. Absci has a 52-week low of $1.29 and a 52-week high of $6.72. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.49 and a current ratio of 6.49.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on ABSI shares. Guggenheim started coverage on shares of Absci in a report on Wednesday, October 2nd. They set a “buy” rating and a $10.00 target price for the company. HC Wainwright restated a “buy” rating and set a $7.00 target price on shares of Absci in a report on Wednesday. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus 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.