Needham Reiterates Buy Rating on Absci Corporation
Needham reaffirmed its buy rating for Absci Corporation, setting a price target of $11, a 1.01% upside from the current price.
Key Points
- Needham reiterated its buy rating for Absci Corporation (ABSI) with a price target of $11, as of June 24, 2026.
- Needham's $11 price target implies 1.01% upside from Absci Corporation's ($ABSI) current $10.89 share price.
- Absci Corporation, trading at $9.64 on Thursday, has a market cap of about $1.31 billion and a beta of 2.457.
- Insiders bought shares in early June, and several analysts maintain a strong buy consensus with varied price targets.
Important disclosure: Podchat is not a registered investment adviser, broker-dealer, or financial planner. This article is for informational and educational purposes only and is not a recommendation to buy, sell, or hold any security. Content may be generated by automated systems using public filings, market data, and third-party sources, and may contain errors or omissions. Investing involves risk, including possible loss of principal. Past performance, insider activity, analyst ratings, price targets, sentiment scores, and hypothetical or backtested results are not guarantees of future performance. Please do your own research and consult a qualified professional before making investment decisions.
On June 24, 2026, Needham reiterated its buy rating for Absci Corporation (NasdaqGS: ABSI), setting a price target of $11. Analyst Gil Blum emphasized the company's potential, reinforcing investor interest in the biotechnology firm. Shares of Absci traded at $9.64 on Thursday.
Needham vs. the S&P 500
Hypothetical, simulated performance of disclosed positions vs. the S&P 500. Not realized profit and not investment advice. Past performance does not indicate future results. Details.
Absci Corporation Stock Up 25.0%
As of Thursday, Absci Corporation shares were trading at $9.64. The company, with a market capitalization of approximately $1.31 billion, operates in the biotechnology industry within the healthcare sector. Absci has a beta of 2.457, indicating it is more volatile than the market. The stock's 52-week range is between $2.24 and $8.57, while its 50-day moving average is $5.29 and its 200-day moving average is $3.71. The company maintains a strong liquidity position, with a current ratio of 6.59 and a quick ratio of 6.28, though it has a negative forward P/E ratio due to lack of profitability.
$ABSI price target
Past daily closes and this analyst's 12-month price target. Not investment advice.
Recent Earnings
Absci Corporation reported revenue of $1.84 million, though it experienced a revenue decline of 81.8%. The company has a net margin of 0% and a return on equity of -63.9%, reflecting ongoing challenges in achieving profitability. The next earnings report is expected on August 14, 2026.
Insider Buying and Selling at Absci Corporation
In early June, several insiders, including Mary Szela and Karen McGinnis, purchased shares of Absci Corporation. Mary Szela bought a total of 81,200 shares, while Karen McGinnis acquired 49,900 shares. Menelas Pangalos also purchased 39,800 shares. These transactions were not part of a planned trading program.
Analysts Set New Price Targets
On June 24, 2026, Needham reiterated its buy rating for Absci Corporation with a target price of $11. BTIG maintained its buy rating with a target of $13, while Guggenheim also held a buy rating, setting a target of $15 on June 15. The consensus among analysts is a strong buy, with a mean target price of $9.61 across 10 analyst opinions.
About Absci Corporation
Absci Corporation, headquartered in Vancouver, Washington, is a clinical-stage biopharmaceutical company focused on developing antibody therapeutics. Its pipeline includes several preclinical and clinical-stage candidates for treating conditions like inflammatory bowel disease, androgenic alopecia, and various oncology targets. The company collaborates with organizations such as PrecisionLife and Memorial Sloan Kettering Cancer Center to advance its research and development efforts.
Bottom Line
Investors are closely watching Absci Corporation as Needham reiterated its buy rating with an $11 target. The company's volatile stock performance, coupled with its strategic collaborations, makes it a subject of interest. As always, remember that analyst ratings and 13F filings are backward-looking and may not reflect current conditions.
Get Absci Corporation alerts
New 13F filings, insider trades, and analyst moves on $ABSI, sent to your inbox. Free, and you can unsubscribe anytime.
This instant news alert was generated by automated narrative technology and financial data from Podchat and public regulatory filings. It is for informational purposes only and is not financial advice.