Morgan Stanley downgraded Absci (ABSI) to Equal Weight from Overweight with a price target of $4.32, down from $5.80. The latest company and pipeline disclosures have meaningfully increased the risk profile and reduced the visibility of near-term, value-accretive execution, contends the analyst, who is updating the firm’s valuation and risk framework and, in doing so, lowering its price target and rating.
Claim 70% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ABSI:
- AbSci’s ABS-201: Promising AGA Treatment with Key Milestones Ahead
- Absci price target raised to $8 from $7 at H.C. Wainwright
- Promising Prospects for AbSci’s ABS-201 in Androgenetic Alopecia: Buy Rating Affirmed
- Absci’s ABS-201 shows efficacy in hair regeneration
- Absci, former U.S. soccer player Donovan announce partnership