Assembly Biosciences (NASDAQ:ASMB) Upgraded at Zacks Research

Zacks Research upgraded shares of Assembly Biosciences (NASDAQ:ASMB) to a hold rating in a research note issued to investors on Tuesday,Zacks.com reports.

Separately, HC Wainwright started coverage on Assembly Biosciences in a research report on Monday. They set a “buy” rating and a $50.00 price target on the stock. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, Assembly Biosciences presently has an average rating of “Moderate Buy” and an average price target of $38.67.

Assembly Biosciences Stock Performance

Shares of NASDAQ:ASMB opened at $26.15 on Tuesday. The firm has a 50 day simple moving average of $19.40 and a 200 day simple moving average of $14.58. Assembly Biosciences has a 52 week low of $7.75 and a 52 week high of $26.25. The company has a market cap of $200.57 million, a PE ratio of -4.69 and a beta of 0.64.

Assembly Biosciences (NASDAQ:ASMB) last posted its quarterly earnings data on Wednesday, August 6th. The biopharmaceutical company reported ($1.33) earnings per share for the quarter, topping the consensus estimate of ($1.73) by $0.40. The firm had revenue of $9.63 million for the quarter, compared to analysts’ expectations of $5.30 million. Assembly Biosciences had a negative net margin of 117.20% and a negative return on equity of 149.01%. On average, equities analysts predict that Assembly Biosciences will post -6.87 earnings per share for the current year.

Hedge Funds Weigh In On Assembly Biosciences

A number of hedge funds have recently added to or reduced their stakes in ASMB. JPMorgan Chase & Co. lifted its stake in Assembly Biosciences by 225.6% in the fourth quarter. JPMorgan Chase & Co. now owns 11,427 shares of the biopharmaceutical company’s stock valued at $180,000 after acquiring an additional 7,918 shares during the last quarter. American Century Companies Inc. acquired a new stake in shares of Assembly Biosciences in the 1st quarter valued at $113,000. Marshall Wace LLP lifted its stake in shares of Assembly Biosciences by 16.5% in the 4th quarter. Marshall Wace LLP now owns 14,823 shares of the biopharmaceutical company’s stock valued at $234,000 after purchasing an additional 2,098 shares during the last quarter. Palumbo Wealth Management LLC boosted its holdings in Assembly Biosciences by 57.4% in the first quarter. Palumbo Wealth Management LLC now owns 17,986 shares of the biopharmaceutical company’s stock worth $172,000 after purchasing an additional 6,559 shares in the last quarter. Finally, Man Group plc acquired a new position in Assembly Biosciences during the fourth quarter worth $309,000. Institutional investors and hedge funds own 19.92% of the company’s stock.

About Assembly Biosciences

Assembly Biosciences, Inc, a biotechnology company, develops therapeutic candidates for the treatment of viral diseases. It develops ABI-5366, a long-acting herpes simplex virus (HSV) helicase-primase inhibitor that is in Phase 1a/1b clinical trial to treat recurrent genital herpes; ABI-1179, which is in Phase 1a/1b clinical trial for the treatment of recurrent genital herpes; and ABI-6250, a small molecule orally bioavailable hepatitis delta virus entry inhibitor that is in Phase 1a clinical trial.