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

Absci Co. (NASDAQ:ABSI) – Equities research analysts at HC Wainwright lowered their FY2024 earnings per share (EPS) estimates for shares of Absci in a research note issued to investors on Wednesday, November 13th. HC Wainwright analyst S. Ramakanth now expects that the company will earn ($0.93) per share for the year, down from their previous forecast 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.

Absci (NASDAQ:ABSI) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.05). The business had revenue of $1.70 million during the quarter, compared to analysts’ expectations 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 last year, the company earned ($0.24) earnings per share.

Separately, Guggenheim assumed 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 investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $8.67.

Absci Price Performance

Shares of ABSI opened at $3.02 on Friday. The stock has a market capitalization of $342.38 million, a PE ratio of -3.24 and a beta of 2.18. The company has a 50 day moving average price of $3.94 and a 200-day moving average price of $4.07. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.49 and a current ratio of 6.49. Absci has a fifty-two week low of $1.29 and a fifty-two week high of $6.72.

Hedge Funds Weigh In On Absci

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Absci by 33.7% during the first quarter. Vanguard Group Inc. now owns 3,445,272 shares of the company’s stock valued at $19,569,000 after acquiring an additional 869,131 shares in the last quarter. Marshall Wace LLP grew its holdings in shares of Absci by 23.3% during the second quarter. Marshall Wace LLP now owns 1,833,902 shares of the company’s stock valued at $5,648,000 after buying an additional 347,079 shares during the last quarter. Bank of Montreal Can acquired a new position in shares of Absci in the 2nd quarter valued at $527,000. Squarepoint Ops LLC lifted its position in Absci by 72.4% during the 2nd quarter. Squarepoint Ops LLC now owns 369,187 shares of the company’s stock worth $1,137,000 after acquiring an additional 155,007 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in shares of Absci by 521.0% in the second quarter. Bank of New York Mellon Corp now owns 285,764 shares of the company’s stock valued at $880,000 after purchasing an additional 239,747 shares during the period. 52.05% of the stock is owned by hedge funds and other institutional investors.

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.