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Needham's Buy rating and price target suggest confidence in ABSI's growth potential, similar to successful past coverage reports leading to positive price performance.
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Needham initiates coverage on Absci Corporation (ABSI) with a Buy rating. ABSI focuses on drug development using AI/ML and synthetic biology. Collaboration with AMD enhances its AI drug discovery capabilities. The company aims for first-in-class therapies with partners after trials. Price target set at $9, indicating potential growth for ABSI.
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