Assembly Biosciences Price Target Raised to $39 by Guggenheim

Assembly Biosciences (NASDAQ: ASMB) has received an increased price target of $39.00 from analysts at Guggenheim, up from a previous target of $31.00. This adjustment, communicated in a note to investors on Monday, suggests a potential upside of 63.88% based on the company’s last closing price. Guggenheim has maintained a “buy” rating on the biopharmaceutical company’s stock, reflecting confidence in its growth prospects.

Analysts from other firms have also recently provided their insights on Assembly Biosciences. HC Wainwright initiated coverage on August 18, 2023, with a “buy” rating and a more ambitious price target of $50.00. Meanwhile, Zacks Research upgraded the company to a “hold” rating on August 19, 2023. Currently, three analysts recommend a buy rating, while one has assigned a hold rating. According to data from MarketBeat.com, Assembly Biosciences has a consensus rating of “Moderate Buy” with an average price target of $41.33.

Recent Financial Performance

Assembly Biosciences released its most recent earnings report on August 6, 2023. The company reported earnings per share (EPS) of ($1.33), exceeding analyst expectations of ($1.73) by $0.40. Despite a challenging financial landscape, the firm posted revenue of $9.63 million for the quarter, which surpassed estimates of $5.30 million. However, the company continues to struggle with a negative return on equity of 149.01% and a negative net margin of 117.20%. Analysts predict that Assembly Biosciences will report an EPS of ($6.87) for the current fiscal year.

Institutional Investment Activity

Recent activity from institutional investors indicates growing interest in Assembly Biosciences. During the fourth quarter, Man Group plc acquired a new position in the company worth approximately $309,000. In the first quarter, Palumbo Wealth Management LLC increased its stake by 57.4%, now holding 17,986 shares valued at $172,000 after buying an additional 6,559 shares.

Other notable transactions include American Century Companies Inc., which purchased a new stake worth around $113,000, and Acadian Asset Management LLC, which raised its position by 42.1%, now owning 23,027 shares valued at $219,000. Geode Capital Management LLC also boosted its stake by 6.9%, increasing its holdings to 51,015 shares worth $925,000. Currently, institutional investors own 19.92% of Assembly Biosciences’ stock.

Assembly Biosciences is focused on developing innovative therapeutic candidates for viral diseases. Its pipeline includes ABI-5366, a long-acting helicase-primase inhibitor for treating recurrent genital herpes currently in Phase 1a/1b trials, along with ABI-1179 for the same condition and ABI-6250, an orally bioavailable hepatitis delta virus entry inhibitor currently in Phase 1a clinical trials.

As the company progresses, its financial developments and therapeutic advancements will likely be closely monitored by investors and analysts alike.