Morgan Stanley Assumes Coverage on Absci Corporation (ABSI) with $7 Target

Absci Corporation (NASDAQ:ABSI) is among the fundamentally strong penny stocks to invest in. Morgan Stanley has assumed coverage on Absci Corporation (NASDAQ:ABSI) with an Overweight rating and a price target of $7, implying a potential upside of around 152%. As the company advances to a value inflection point with the lead candidate, TL1A monoclonal antibody ABS-101, analysts are hopeful that the company is heading north.

The Phase 1 interim data from its first-in-human healthy volunteer study for this key asset, examining as many as 40 participants with primary endpoints emphasizing not only safety but also tolerability, is anticipated for later this year. With a commitment to represent extended half-life underpinning quarterly dosing, the study will be a turning point for Absci Corporation (NASDAQ:ABSI).

A scientist in a lab, focused on a molecular microscope with biologic drug candidates.

The research firm notes that Absci Corporation (NASDAQ:ABSI) is working towards building a partner for ABS-101 and is already in talks with three major biopharma companies that lack TL1A assets. Any such partnership, if successful, would bring non-dilutive funding and advance the company’s cash runway beyond its current guidance of the first half of 2027.

Absci Corporation (NASDAQ:ABSI) is a Washington-headquartered data-first generative AI drug creation company that perfectly blends AI with scalable wet lab technologies. This effort to design tailored antibody therapeutics enables the company to transition to a more effective drug discovery and development enterprise.

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Disclosure: None.