Citizens Jmp Initiates Coverage on Assembly Biosciences with Target Price of $38

On August 16, 2023, Citizens Jmp began coverage of Assembly Biosciences (NASDAQ: ASMB), assigning an “outperform” rating along with a target price of $38.00. This biopharmaceutical company, based in the United States, has attracted attention from various analysts in recent weeks as it continues to develop treatments for viral diseases.

Analysts Offer Mixed Ratings

Following Citizens Jmp’s report, other analysts provided insights into Assembly Biosciences’ stock. On August 18, HC Wainwright initiated coverage with a “buy” rating and a more ambitious target price of $50.00. Shortly thereafter, on August 19, Zacks Research upgraded the stock to a “hold” rating.

Additionally, on September 8, Guggenheim revised their target price for Assembly Biosciences from $31.00 to $39.00, maintaining a “buy” rating. Currently, five research analysts have assigned a “buy” rating to the stock, while one has provided a “hold” rating. According to data from MarketBeat, Assembly Biosciences holds an average rating of “Moderate Buy” with a target price around $41.25.

Financial Performance and Institutional Interest

Assembly Biosciences released its latest earnings results on August 6, 2023. The company reported earnings per share (EPS) of ($1.33), surpassing analysts’ expectations of ($1.73) by $0.40. Revenue for the quarter stood at $9.63 million, significantly exceeding the forecast of $5.30 million. Despite these positive results, the company reported a negative net margin of 117.20% and a negative return on equity of 149.01%. Analysts predict that Assembly Biosciences will post an EPS of ($6.87) for the current year.

Institutional investors have shown increased interest in Assembly Biosciences. Notably, Man Group plc acquired a new position in the company during the fourth quarter, investing approximately $309,000. American Century Companies Inc. also purchased shares worth about $113,000 in the first quarter. Acadian Asset Management LLC increased its holdings by 42.1% during the same period, now owning 23,027 shares valued at $219,000.

Moreover, Palumbo Wealth Management LLC raised its stake by 57.4%, bringing its total to 17,986 shares worth approximately $172,000. Geode Capital Management LLC also increased its holdings by 6.9% in the second quarter, now owning 51,015 shares valued at $925,000. Currently, institutional investors hold 19.92% of Assembly Biosciences’ stock.

About Assembly Biosciences

Assembly Biosciences is focused on developing therapeutic candidates for viral diseases. Among its projects are ABI-5366, a long-acting helicase-primase inhibitor for recurrent genital herpes currently in Phase 1a/1b trials, and ABI-1179, which is also in early clinical trials for the same condition. Additionally, the company is developing ABI-6250, a small molecule aimed at treating hepatitis delta virus, which is in Phase 1a trials.

As Assembly Biosciences continues to navigate the complexities of biopharmaceutical development, the support from analysts and institutional investors may play a crucial role in its growth trajectory.