Analysts Issue Forecasts for Acumen Pharmaceuticals, Inc.’s FY2024 Earnings (NASDAQ:ABOS)

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) – HC Wainwright lifted their FY2024 EPS estimates for shares of Acumen Pharmaceuticals in a report issued on Wednesday, August 14th. HC Wainwright analyst A. Fein now expects that the company will post earnings of ($1.01) per share for the year, up from their prior estimate of ($1.02). HC Wainwright currently has a “Buy” rating and a $15.00 target price on the stock. The consensus estimate for Acumen Pharmaceuticals’ current full-year earnings is ($1.13) per share.

Acumen Pharmaceuticals (NASDAQ:ABOS) last posted its quarterly earnings data on Tuesday, August 13th. The company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($0.06). During the same quarter last year, the company earned ($0.28) earnings per share.

A number of other analysts also recently weighed in on ABOS. Citigroup raised shares of Acumen Pharmaceuticals to a “strong-buy” rating in a research report on Friday, July 26th. UBS Group cut their price objective on shares of Acumen Pharmaceuticals from $14.00 to $6.00 and set a “buy” rating on the stock in a report on Thursday.

Acumen Pharmaceuticals Stock Up 0.8 %

Shares of NASDAQ ABOS traded up $0.02 during mid-day trading on Friday, hitting $2.60. 15,451 shares of the stock traded hands, compared to its average volume of 380,867. The stock has a fifty day moving average price of $2.70 and a 200-day moving average price of $3.28. The company has a debt-to-equity ratio of 0.12, a quick ratio of 30.20 and a current ratio of 30.20. The company has a market cap of $156.21 million, a price-to-earnings ratio of -2.43 and a beta of 0.11. Acumen Pharmaceuticals has a 52 week low of $1.81 and a 52 week high of $6.78.

Institutional Trading of Acumen Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD bought a new stake in shares of Acumen Pharmaceuticals in the 1st quarter worth $4,449,000. Susquehanna Fundamental Investments LLC bought a new stake in Acumen Pharmaceuticals in the 1st quarter worth about $253,000. Franklin Resources Inc. raised its position in Acumen Pharmaceuticals by 18.3% in the 4th quarter. Franklin Resources Inc. now owns 3,358,809 shares of the company’s stock worth $12,898,000 after buying an additional 520,044 shares during the last quarter. Jump Financial LLC lifted its stake in Acumen Pharmaceuticals by 203.8% during the 4th quarter. Jump Financial LLC now owns 103,000 shares of the company’s stock valued at $396,000 after acquiring an additional 69,100 shares during the period. Finally, Parkman Healthcare Partners LLC boosted its holdings in shares of Acumen Pharmaceuticals by 20.7% during the 4th quarter. Parkman Healthcare Partners LLC now owns 603,497 shares of the company’s stock valued at $2,317,000 after acquiring an additional 103,683 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors.

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.