Acumen Pharmaceuticals (NASDAQ:ABOS) Posts Earnings Results, Misses Estimates By $0.14 EPS

Acumen Pharmaceuticals (NASDAQ:ABOS) posted its quarterly earnings data on Tuesday. The company reported ($0.50) earnings per share for the quarter, missing the consensus estimate of ($0.36) by ($0.14), Zacks reports. During the same quarter in the previous year, the firm posted ($0.24) EPS.

Acumen Pharmaceuticals Trading Up 1.2 %

ABOS stock traded up $0.03 during trading on Thursday, hitting $2.56. 56,804 shares of the company traded hands, compared to its average volume of 326,075. The company has a debt-to-equity ratio of 0.12, a quick ratio of 17.37 and a current ratio of 17.37. The company has a 50-day moving average of $2.61 and a 200-day moving average of $2.80. The firm has a market capitalization of $153.80 million, a PE ratio of -1.83 and a beta of 0.04. Acumen Pharmaceuticals has a 1 year low of $2.08 and a 1 year high of $5.09.

Analysts Set New Price Targets

A number of research firms have weighed in on ABOS. Citigroup upgraded Acumen Pharmaceuticals to a “strong-buy” rating in a research report on Friday, July 26th. HC Wainwright reaffirmed a “buy” rating and issued a $15.00 target price on shares of Acumen Pharmaceuticals in a research note on Wednesday. Finally, UBS Group decreased their price target on shares of Acumen Pharmaceuticals from $14.00 to $6.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th.

Acumen Pharmaceuticals Company Profile

Acumen Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops targeted therapies for the treatment of Alzheimer’s disease. The company focuses on advancing a targeted immunotherapy drug candidate sabirnetug (ACU193), a recombinant humanized immunoglobulin gamma 2 that completed Phase I clinical trial to target soluble amyloid-beta oligomers.