Analyst Swayampakula Ramakanth of H.C. Wainwright reiterated a Buy rating on AbSci, with a price target of $7.00.
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Swayampakula Ramakanth’s rating is based on several promising developments within AbSci. The company’s second development candidate, ABS-201, shows potential for better economic returns due to its extended half-life, which may allow for less frequent dosing compared to competitors. This candidate is being developed for androgenic alopecia and could have a straightforward clinical development pathway, potentially leading to more favorable economics for the company.
Additionally, AbSci’s financial position is strengthened by recent fundraising efforts, extending their cash runway into the first half of 2028. The company also anticipates forming at least one partnership with a large pharmaceutical company, which could provide non-dilutive capital. Furthermore, the ongoing development of ABS-101 and its interim data could validate AbSci’s AI platform, attracting potential partners and enhancing the company’s asset portfolio.
According to TipRanks, Ramakanth is a 4-star analyst with an average return of 7.3% and a 38.00% success rate. Ramakanth covers the Healthcare sector, focusing on stocks such as Eton Pharmaceuticals, Corcept Therapeutics, and Precigen.
In another report released today, Needham also maintained a Buy rating on the stock with a $8.00 price target.