Aclarion (NASDAQ:ACON) Given New $7.50 Price Target at Ascendiant Capital Markets

Aclarion (NASDAQ:ACON) had its price objective hoisted by analysts at Ascendiant Capital Markets from $7.00 to $7.50 in a report released on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Ascendiant Capital Markets’ price objective would indicate a potential upside of 138.10% from the stock’s previous close.

ACON has been the subject of a number of other reports. Wall Street Zen upgraded Aclarion from a “sell” rating to a “hold” rating in a report on Saturday, March 28th. Weiss Ratings upgraded Aclarion from a “sell (e)” rating to a “sell (e+)” rating in a report on Friday, May 22nd. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $7.50.

Aclarion Stock Performance

NASDAQ:ACON opened at $3.15 on Friday. The company has a market cap of $7.75 million, a PE ratio of -0.35 and a beta of 1.18. Aclarion has a 52-week low of $2.34 and a 52-week high of $12.03. The stock has a 50-day simple moving average of $3.29 and a 200 day simple moving average of $4.12.

Aclarion (NASDAQ:ACON) last posted its quarterly earnings data on Wednesday, May 13th. The company reported ($1.34) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.55) by $0.21. The business had revenue of $0.02 million during the quarter, compared to the consensus estimate of $0.03 million. Aclarion had a negative return on equity of 54.41% and a negative net margin of 10,320.51%. On average, research analysts predict that Aclarion will post -4.37 earnings per share for the current fiscal year.

Aclarion declared that its board has authorized a share buyback plan on Wednesday, April 22nd that authorizes the company to repurchase $2.50 million in shares. This repurchase authorization authorizes the company to purchase up to 31% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Aclarion Company Profile

Aclarion, Inc, a healthcare technology company, leverages for Magnetic Resonance Spectroscopy (MRS) in the United States. It develops NOCISCAN Post-Processor suite of software applications comprising NOCICALC that receives the raw un-processed NOCISCAN MRS exam data and post-processes that raw data into final spectra and performs various degenerative pain biomarker; and NOCIGRAM, a clinical decision support software. The company was formerly known as Nocimed, Inc and changed its name to Aclarion, Inc in December 2021.