What is HC Wainwright’s Forecast for Absci FY2024 Earnings?

Absci Co. (NASDAQ:ABSI) – HC Wainwright cut their FY2024 EPS estimates for shares of Absci in a research report issued on Wednesday, November 13th. HC Wainwright analyst S. Ramakanth now forecasts that the company will post earnings per share of ($0.93) for the year, down from their previous estimate 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 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 analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Absci has an average rating of “Buy” and a consensus price target of $8.67.

Absci Stock Down 5.8 %

Shares of Absci stock opened at $2.84 on Friday. Absci has a 1 year low of $1.33 and a 1 year high of $6.72. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.63 and a quick ratio of 6.49. The stock has a market cap of $326.19 million, a price-to-earnings ratio of -3.05 and a beta of 2.18. The firm’s 50-day moving average is $3.91 and its two-hundred day moving average is $4.06.

Absci (NASDAQ:ABSI) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.05). The company had revenue of $1.70 million during the quarter, compared to the consensus estimate of $1.77 million. Absci had a negative return on equity of 46.56% and a negative net margin of 2,321.56%. During the same quarter in the previous year, the company posted ($0.24) earnings per share.

Institutional Trading of Absci

A number of institutional investors have recently made changes to their positions in the business. Comerica Bank purchased a new stake in Absci in the first quarter valued at about $31,000. Victory Capital Management Inc. raised its position in shares of Absci by 5.9% in the 3rd quarter. Victory Capital Management Inc. now owns 150,562 shares of the company’s stock valued at $575,000 after purchasing an additional 8,388 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in Absci by 119.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 18,876 shares of the company’s stock worth $72,000 after purchasing an additional 10,275 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Absci during the 1st quarter worth approximately $63,000. Finally, Charles Schwab Investment Management Inc. increased its stake in Absci by 1.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 697,849 shares of the company’s stock valued at $2,666,000 after purchasing an additional 11,602 shares in the last quarter. Institutional investors and hedge funds own 52.05% of the company’s stock.

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.