Acumen Pharmaceuticals (NASDAQ:ABOS) Releases Quarterly Earnings Results, Misses Expectations By $0.06 EPS

Acumen Pharmaceuticals (NASDAQ:ABOS) issued its quarterly earnings data on Tuesday. The company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.06), Yahoo Finance reports. During the same period in the previous year, the company posted ($0.28) EPS.

Acumen Pharmaceuticals Stock Performance

NASDAQ ABOS traded down $0.30 during midday trading on Wednesday, hitting $2.47. The company had a trading volume of 139,406 shares, compared to its average volume of 384,029. The firm has a fifty day simple moving average of $2.70 and a two-hundred day simple moving average of $3.29. Acumen Pharmaceuticals has a fifty-two week low of $1.81 and a fifty-two week high of $7.25. The company has a quick ratio of 30.20, a current ratio of 30.20 and a debt-to-equity ratio of 0.12. The stock has a market cap of $148.40 million, a price-to-earnings ratio of -2.28 and a beta of 0.11.

Analysts Set New Price Targets

Several analysts have recently issued reports on ABOS shares. Citigroup upgraded Acumen Pharmaceuticals to a “strong-buy” rating in a research note on Friday, July 26th. HC Wainwright reiterated a “buy” rating and set a $15.00 price target on shares of Acumen Pharmaceuticals in a report on Wednesday.

Acumen Pharmaceuticals Company Profile

Acumen Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, discovers and develops therapies for the treatment of Alzheimer's disease. The company focuses on advancing a targeted immunotherapy drug candidate ACU193, a humanized monoclonal antibody that is in Phase I clinical-stage to target soluble amyloid-beta oligomers.