TD Cowen analyst Brendan Smith has maintained their bullish stance on ABSI stock, giving a Buy rating on July 28.
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Brendan Smith has given his Buy rating due to a combination of factors including upcoming clinical milestones and strategic developments. AbSci’s ABS-101 is poised for initial data release in the second half of 2025, which is expected to provide critical insights into its positioning within the competitive TL1A landscape. The focus on safety, tolerability, and potential dosing will be crucial, and the management’s anticipation of a combination treatment paradigm adds to the asset’s potential.
Moreover, the commercial potential of ABS-201 for androgenic alopecia is seen as significantly undervalued by the market. With a large target patient population and high unmet needs, the exploration of a subcutaneous formulation could enhance its marketability. The strategic focus on incorporating this formulation into early clinical trials is seen as a prudent approach to maximize its future commercial success.
According to TipRanks, Smith is a 2-star analyst with an average return of 0.0% and a 40.00% success rate. Smith covers the Healthcare sector, focusing on stocks such as Halozyme, Azenta, and Codexis.
In another report released on July 28, Morgan Stanley also maintained a Buy rating on the stock with a $6.40 price target.