Assembly Biosciences (NASDAQ:ASMB) Price Target Cut to $48.00 by Analysts at UBS Group

Assembly Biosciences (NASDAQ:ASMB) had its target price dropped by analysts at UBS Group from $52.00 to $48.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. UBS Group‘s price objective suggests a potential upside of 145.31% from the company’s current price.

Other equities analysts have also recently issued research reports about the company. HC Wainwright reaffirmed a “buy” rating and issued a $50.00 price target on shares of Assembly Biosciences in a report on Tuesday, August 18th. Weiss Ratings reissued a “sell (d-)” rating on shares of Assembly Biosciences in a report on Thursday, October 15th. Mizuho set a $53.00 price objective on Assembly Biosciences in a report on Tuesday, September 1st. Finally, Zacks Research upgraded Assembly Biosciences from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Assembly Biosciences has a consensus rating of “Moderate Buy” and an average target price of $46.50.

Assembly Biosciences Trading Up 0.3%

Shares of Assembly Biosciences stock traded up $0.06 during trading hours on Tuesday, reaching $19.57. The stock had a trading volume of 27,950 shares, compared to its average volume of 190,426. The stock’s 50 day moving average is $25.84 and its 200 day moving average is $27.18. The firm has a market capitalization of $398.40 million, a PE ratio of 19.19 and a beta of 1.26. Assembly Biosciences has a twelve month low of $19.25 and a twelve month high of $39.71.

Assembly Biosciences (NASDAQ:ASMB) last posted its earnings results on Thursday, August 13th. The biopharmaceutical company reported ($0.20) EPS for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.52. Assembly Biosciences had a negative return on equity of 0.02% and a negative net margin of 0.06%. The firm had revenue of $13.37 million for the quarter, compared to analysts’ expectations of $8.60 million. As a group, sell-side analysts predict that Assembly Biosciences will post 2.28 earnings per share for the current year.

Hedge Funds Weigh In On Assembly Biosciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ASMB. Engineers Gate Manager LP grew its position in shares of Assembly Biosciences by 88.5% in the second quarter. Engineers Gate Manager LP now owns 17,766 shares of the biopharmaceutical company’s stock valued at $488,000 after purchasing an additional 8,343 shares during the period. Squarepoint Ops LLC increased its stake in shares of Assembly Biosciences by 43.7% during the second quarter. Squarepoint Ops LLC now owns 34,214 shares of the biopharmaceutical company’s stock worth $940,000 after purchasing an additional 10,410 shares in the last quarter. Seven Fleet Capital Management LP raised its position in shares of Assembly Biosciences by 671.5% during the 2nd quarter. Seven Fleet Capital Management LP now owns 433,147 shares of the biopharmaceutical company’s stock worth $11,903,000 after purchasing an additional 377,000 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Assembly Biosciences during the 2nd quarter worth about $660,000. Finally, Bank of America Corp DE raised its position in shares of Assembly Biosciences by 113.3% during the 1st quarter. Bank of America Corp DE now owns 10,902 shares of the biopharmaceutical company’s stock worth $303,000 after purchasing an additional 5,792 shares during the last quarter. 19.92% of the stock is owned by hedge funds and other institutional investors.

About Assembly Biosciences

Assembly Biosciences, Inc is a clinical-stage biotechnology company focused on developing oral therapeutics for serious viral infections. The company’s research programs target chronic hepatitis B virus (HBV) infection and herpesvirus infections, including herpes simplex virus (HSV), with the goal of addressing diseases for which existing treatments may not provide adequate cures or long-term control.

Assembly’s pipeline includes novel antiviral candidates designed to interfere with essential stages of viral replication.