TD Cowen analyst Brendan Smith has maintained their bullish stance on ABSI stock, giving a Buy rating today.
Brendan Smith has given his Buy rating due to a combination of factors, primarily focusing on AbSci’s promising pipeline and strategic advancements. The company is making significant progress with its early-stage assets, particularly ABS-101 and ABS-201, which are moving towards clinical trials. ABS-101 is set to begin Phase 1 trials for irritable bowel disease soon, with initial data expected by the end of 2025, while ABS-201 is targeting a large market with unmet needs in androgenic alopecia, with trials planned for early 2026.
Furthermore, AbSci’s financial management is noteworthy, as they have managed to keep their cash burn below expectations, ensuring operational funding into the first half of 2027. The company’s innovative technology platform is starting to yield tangible results, and the potential for licensing agreements, particularly for ABS-101, could attract significant interest from pharmaceutical companies. These elements collectively suggest a transformative period for AbSci, justifying the Buy rating.
In another report released today, Morgan Stanley also maintained a Buy rating on the stock with a $7.00 price target.