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

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

Acumen Pharmaceuticals Trading Up 3.2 %

Shares of ABOS opened at $2.61 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 10.43 and a quick ratio of 17.37. Acumen Pharmaceuticals has a 1 year low of $2.08 and a 1 year high of $5.09. The firm has a fifty day moving average of $2.61 and a 200-day moving average of $2.80.

Analyst Upgrades and Downgrades

ABOS has been the subject of a number of research analyst reports. UBS Group lowered their price target on Acumen Pharmaceuticals from $14.00 to $6.00 and set a “buy” rating for the company in a report on Thursday, August 15th. Citigroup upgraded shares of Acumen Pharmaceuticals to a “strong-buy” rating in a research report on Friday, July 26th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $15.00 price objective on shares of Acumen Pharmaceuticals in a research report on Wednesday.

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.