In a report released today, Swayampakula Ramakanth from H.C. Wainwright maintained a Buy rating on AbSci, with a price target of $7.00.
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Swayampakula Ramakanth’s rating is based on several strategic developments and promising prospects for AbSci. The company has accelerated its timeline for ABS-201, a clinical candidate for treating androgenetic alopecia, with plans to initiate a Phase 1 study by December 2025 and an interim efficacy data readout in the second half of 2026. Additionally, AbSci is expanding the development of ABS-201 into a second indication, endometriosis, with a Phase 2 study set to begin in the fourth quarter of 2026, and proof-of-concept data expected in the second half of 2027.
Furthermore, AbSci is actively seeking a partnership for ABS-101, another promising candidate in inflammatory bowel disease, which is currently in a Phase 1 study. The interim data from this study has shown a favorable safety profile and promising pharmacokinetic characteristics, such as a longer half-life compared to other similar molecules. These strategic initiatives and positive data points contribute to the Buy rating, as they highlight AbSci’s potential for growth and success in addressing unmet medical needs.
In another report released today, Needham also maintained a Buy rating on the stock with a $7.00 price target.
Based on the recent corporate insider activity of 21 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ABSI in relation to earlier this year.