Acumen Pharmaceuticals (NASDAQ:ABOS) Announces Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Acumen Pharmaceuticals (NASDAQ:ABOS) issued its quarterly earnings data on Monday. The company reported ($0.35) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.39) by $0.04, FiscalAI reports.

Acumen Pharmaceuticals Stock Performance

NASDAQ ABOS opened at $1.98 on Monday. The company has a quick ratio of 2.47, a current ratio of 2.47 and a debt-to-equity ratio of 0.21. Acumen Pharmaceuticals has a fifty-two week low of $1.50 and a fifty-two week high of $3.60. The business has a fifty day moving average of $2.52 and a 200-day moving average of $2.46. The stock has a market cap of $143.19 million, a price-to-earnings ratio of -1.21 and a beta of 0.33.

Analyst Upgrades and Downgrades

Several analysts have weighed in on ABOS shares. Wall Street Zen lowered Acumen Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Saturday, October 17th. BTIG Research reaffirmed a “buy” rating and set a $8.00 price target on shares of Acumen Pharmaceuticals in a research note on Wednesday, September 16th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Acumen Pharmaceuticals in a research note on Thursday, September 17th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Acumen Pharmaceuticals in a research report on Friday, October 2nd. Finally, Citigroup increased their price objective on shares of Acumen Pharmaceuticals from $4.00 to $5.00 and gave the company a “buy” rating in a research note on Tuesday, September 15th. Four analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Acumen Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $7.00.

Acumen Pharmaceuticals Company Profile

Acumen Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for Alzheimer’s disease and other neurodegenerative disorders. The company’s research centers on amyloid beta oligomers, toxic protein assemblies that Acumen believes contribute to the development and progression of Alzheimer’s disease.

Acumen’s lead product candidate is sabirnetug, also known as ACU193, an investigational humanized monoclonal antibody designed to selectively target soluble amyloid beta oligomers.