** 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;))