Absci initiated with an Overweight at Morgan Stanley

Morgan Stanley initiated coverage of Absci with an Overweight rating and $7 price target. The company is using its artificial intelligence and machine learning enabled platform to reduce costs, cut development times, and increase success for antibody therapies, the analyst tells investors in a research note. The firm says partnerships provide early validation for Absci, its lead program ABS-101 addresses well-understood biology, and the stock’s valuation “provides a compelling entry point.”