Absci price target raised to $7 from $4 at H.C. Wainwright

H.C. Wainwright analyst Swayampakula Ramakanth raised the firm’s price target on Absci to $7 from $4 and keeps a Buy rating on the shares after the company announced its plan to present initial preclinical data of ABS-101. The initial data highlight multiple differentiating factors from competitor anti-TL1A antibodies, the analyst tells investors in a research note. The firm says ABS-101 targets a diverse range of epitopes that are distinct from the other two antibodies and showed comparable or superior binding affinity and potency. It is “pleased to see” Absci’s capability of rapidly advancing its artificial intellitence-designed drugs towards clinics. These data position ABS-101 as an attractive asset for partnership opportunities and provide proof-ofprinciple for Absci’s generative AI models and synthetic biology platform, contends H.C. Wainwright.