Promising Developments and Strategic Initiatives Drive Buy Rating for Absci

In a report released today, Swayampakula Ramakanth from H.C. Wainwright maintained a Buy rating on AbSci (ABSI – Research Report), with a price target of $7.00.

Swayampakula Ramakanth has given his Buy rating due to a combination of factors including promising early data and strategic initiatives. The initial data from the non-human primate studies for ABS-201, an anti-PRLR antibody candidate for androgenic alopecia, show a favorable pharmacokinetic profile with extended half-life and high bioavailability, suggesting a less frequent dosing schedule compared to competitors. This positions ABS-201 well for future clinical development and potential partnerships.
Additionally, the initiation of a Phase 1 study for ABS-101, targeting inflammatory bowel diseases, underscores Absci’s progress in its pipeline. The use of generative AI to develop a bispecific antibody further highlights the company’s innovative approach. Financially, despite a revenue shortfall in 1Q25, Absci’s cash reserves are deemed sufficient to support ongoing operations. The valuation analysis, incorporating a risk-adjusted net present value, supports a 12-month price target of $7.00 per share, reflecting confidence in Absci’s growth potential and strategic direction.

In another report released today, Needham also reiterated a Buy rating on the stock with a $9.00 price target.