Aclarion (NASDAQ:ACON) Issues Quarterly Earnings Results

Aclarion (NASDAQ:ACON) issued its quarterly earnings results on Thursday. The company reported ($1.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.05) by ($0.07), FiscalAI reports. Aclarion had a negative return on equity of 54.41% and a negative net margin of 10,320.51%.The firm had revenue of $0.03 million during the quarter, compared to analyst estimates of $0.03 million.

Aclarion Stock Performance

ACON stock opened at $2.35 on Friday. The stock’s 50 day simple moving average is $2.84 and its 200 day simple moving average is $3.06. The company has a market cap of $5.79 million, a P/E ratio of -0.26 and a beta of 1.21. Aclarion has a fifty-two week low of $1.95 and a fifty-two week high of $12.03.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on ACON shares. Wall Street Zen upgraded shares of Aclarion from a “sell” rating to a “hold” rating in a research report on Saturday, June 20th. Weiss Ratings raised shares of Aclarion from a “sell (e)” rating to a “sell (e+)” rating in a research report on Wednesday. Finally, Ascendiant Capital Markets increased their price target on Aclarion from $7.00 to $7.50 and gave the stock a “buy” rating in a report on Friday, May 29th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $7.50.

Aclarion declared that its board has authorized a share repurchase program on Wednesday, April 22nd that permits the company to buyback $2.50 million in outstanding shares. This buyback authorization permits the company to repurchase up to 31% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its shares are undervalued.

Aclarion Company Profile

Aclarion, Inc, a healthcare technology company, leverages for Magnetic Resonance Spectroscopy (MRS) in the United States. It develops NOCISCAN Post-Processor suite of software applications comprising NOCICALC that receives the raw un-processed NOCISCAN MRS exam data and post-processes that raw data into final spectra and performs various degenerative pain biomarker; and NOCIGRAM, a clinical decision support software. The company was formerly known as Nocimed, Inc and changed its name to Aclarion, Inc in December 2021.