Absci initiated with an Outperform at Scotiabank

Scotiabank analyst George Farmer initiated coverage of Absci with an Outperform rating and $13 price target. The analyst recommends buying the shares to capture the value potential of the company’s novel artificial intelligence-based drug development strategy and the early-stage biologics pipeline on which it is based. ? Preclinical results to date support the competitive advantage that lead asset ABS-101 may have over existing agents in clinical development for addressing the massive inflammatory bowel disease treatment market, the analyst tells investors in a research note.