In a report released today, Debanjana Chatterjee from JonesTrading reiterated a Buy rating on AbSci (ABSI – Research Report), with a price target of $9.00.
Debanjana Chatterjee’s rating is based on several promising developments within AbSci. The company is advancing its ABS-101 program for inflammatory bowel disease, with IND-enabling work nearing completion and full toxicology data expected soon. Additionally, AbSci is working on a potentially groundbreaking bispecific antibody, with more details anticipated later this year.
Furthermore, AbSci’s ABS-201 program for androgenetic alopecia is progressing, with the SAD portion of a Phase 1 trial set to begin earlier than previously planned. The company’s financial position is robust, with a significant cash runway extending into the first half of 2027, bolstered by a recent $20 million investment from AMD. This partnership with AMD enhances AbSci’s technological capabilities, allowing for more precise modeling and faster R&D processes.
According to TipRanks, Chatterjee is a 3-star analyst with an average return of 2.6% and a 34.15% success rate. Chatterjee covers the Healthcare sector, focusing on stocks such as EyePoint Pharmaceuticals, Opthea Limited Sponsored ADR, and Sagimet Biosciences, Inc. Class A.
In another report released today, Morgan Stanley also maintained a Buy rating on the stock with a $7.00 price target.