** Shares of AI biologics firm Absci Corp ABSI.O rise 3.7% to $3.34 premarket
** Brokerage Needham initiates coverage with a "buy" rating, sets price target of $9
** Brokerage says Absci stands out from the pack due to its practical approach to drug development
** Says unlike many of its peers, Absci generates proprietary, well-annotated, wet-lab data at scale, adds, "It is our view that the real currency for companies focused on drug development in the AI age is the quality of the data used"
** Says co has potential best-in-class assets in high-value therapeutic spaces such as inflammatory bowel disease
** 8 of 8 brokerages rate the stock "buy" or higher; their median PT is $9
** ABSI had fallen 37.6% in 2024
(Reporting by Sneha S K)
((Sneha.SK@thomsonreuters.com;))
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