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

Absci (NASDAQ:ABSI) issued its quarterly earnings data on Tuesday. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.05), Zacks reports. The firm 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 45.94% and a negative net margin of 2,321.56%. During the same period in the previous year, the company posted ($0.24) earnings per share.

Absci Trading Down 4.0 %

Shares of ABSI opened at $3.02 on Friday. Absci has a 1-year low of $1.29 and a 1-year high of $6.72. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.49 and a quick ratio of 6.49. The company 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 simple moving average is $3.94 and its 200 day simple moving average is $4.07.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Guggenheim began coverage on Absci in a research note on Wednesday, October 2nd. They issued a “buy” rating and a $10.00 price objective for the company. HC Wainwright reissued a “buy” rating and set a $7.00 target price on shares of Absci in a report on Wednesday. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Absci has a consensus rating of “Buy” and a consensus target price 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.