ABSI is trading 8% up at $11.03 as the stock extends its sharp multi-day rally following a $100 million Eli Lilly-backed equity offering and positive clinical data for its ABS-201 program.
- HC Wainwright maintained its rating and raised its price target to $16 today, adding to growing analyst bullishness and investor enthusiasm around the company's pipeline.
- The stock continues to benefit from positive interim Phase 1 data for ABS-201, a program targeting hair loss and endometriosis.
- Momentum remains strong following the recent $100 million capital raise backed by Eli Lilly, which has significantly bolstered investor confidence.