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

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

Acumen Pharmaceuticals Stock Performance

Shares of NASDAQ:ABOS traded down $0.13 on Wednesday, reaching $2.55. 131,755 shares of the company were exchanged, compared to its average volume of 327,012. Acumen Pharmaceuticals has a 1-year low of $2.01 and a 1-year high of $5.09. The company has a 50-day moving average of $2.61 and a 200-day moving average of $2.80. The company has a debt-to-equity ratio of 0.12, a quick ratio of 17.37 and a current ratio of 17.37.

Wall Street Analyst Weigh In

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

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.