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

Acumen Pharmaceuticals (NASDAQ:ABOS) announced its quarterly earnings results on Tuesday. The company reported ($0.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.14), Zacks reports. During the same period in the prior year, the business posted ($0.24) earnings per share.

Acumen Pharmaceuticals Stock Performance

ABOS stock traded down $0.12 during midday trading on Wednesday, reaching $2.55. 135,168 shares of the company’s stock traded hands, compared to its average volume of 327,084. The company has a 50-day moving average price of $2.61 and a two-hundred day moving average price of $2.80. Acumen Pharmaceuticals has a 52 week low of $2.01 and a 52 week high of $5.09. The company has a current ratio of 17.37, a quick ratio of 17.37 and a debt-to-equity ratio of 0.12.

Analysts Set New Price Targets

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

About Acumen Pharmaceuticals

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.