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

Acumen Pharmaceuticals (NASDAQ:ABOS) released its earnings results on Monday. The company reported ($0.35) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.04, FiscalAI reports.

Acumen Pharmaceuticals Stock Performance

NASDAQ ABOS opened at $1.98 on Monday. The company has a market cap of $143.19 million, a P/E ratio of -1.21 and a beta of 0.33. The company has a fifty day simple moving average of $2.52 and a 200 day simple moving average of $2.46. The company has a current ratio of 2.47, a quick ratio of 2.47 and a debt-to-equity ratio of 0.21. Acumen Pharmaceuticals has a 12-month low of $1.50 and a 12-month high of $3.60.

Analyst Ratings Changes

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

About Acumen Pharmaceuticals

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.