H.C. Wainwright raised the firm’s price target on Absci (ABSI) to $8 from $7 and keeps a Buy rating on the shares after the company hosted an investor event to discuss its androgenetic alopecia program for ABS-201. The firm incorporated ABS-201 into the company’s model. ABS-201 has the potential to increase the proportion of hair follicles in the growth phase versus the resting phase — a time period when hair shedding occurs, the analyst tells investors in a research note. H.C. Wainwright has confidence in the ABS-201 program based on the strength of the preclinical evidence.
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