Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) Receives Consensus Rating of “Moderate Buy” from Analysts

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) has been given an average rating of “Moderate Buy” by the five analysts that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation and four have issued a buy recommendation on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $7.00.

Several analysts have weighed in on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Acumen Pharmaceuticals in a report on Monday, July 6th. Citigroup lifted their price target on shares of Acumen Pharmaceuticals from $4.00 to $5.00 and gave the stock a “buy” rating in a research report on Tuesday, September 15th. BTIG Research reissued a “buy” rating and set a $8.00 price target on shares of Acumen Pharmaceuticals in a research note on Wednesday, September 16th. Cantor Fitzgerald reissued an “overweight” rating on shares of Acumen Pharmaceuticals in a research note on Thursday, September 17th. Finally, Wall Street Zen lowered shares of Acumen Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Sunday, July 12th.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in ABOS. Sei Investments Co. bought a new stake in Acumen Pharmaceuticals in the first quarter valued at about $27,000. Two Sigma Securities LLC acquired a new position in shares of Acumen Pharmaceuticals during the 2nd quarter worth about $32,000. Spark Investment Management LLC bought a new stake in shares of Acumen Pharmaceuticals in the 2nd quarter valued at about $39,000. Independent Advisor Alliance bought a new stake in shares of Acumen Pharmaceuticals in the 4th quarter valued at about $40,000. Finally, OMERS ADMINISTRATION Corp raised its position in shares of Acumen Pharmaceuticals by 27.4% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 28,600 shares of the company’s stock valued at $67,000 after acquiring an additional 6,146 shares during the period. Institutional investors and hedge funds own 71.01% of the company’s stock.

Acumen Pharmaceuticals Stock Down 12.8%

Shares of ABOS opened at $2.31 on Thursday. The firm has a market capitalization of $167.06 million, a price-to-earnings ratio of -1.42 and a beta of 0.37. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.47 and a current ratio of 2.47. The business’s fifty day moving average price is $2.63 and its two-hundred day moving average price is $2.59. Acumen Pharmaceuticals has a 52 week low of $1.24 and a 52 week high of $3.60.

Acumen Pharmaceuticals (NASDAQ:ABOS) last released its earnings results on Wednesday, August 12th. The company reported ($0.45) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.09). On average, analysts predict that Acumen Pharmaceuticals will post -1.6 earnings per share for the current year.

Acumen Pharmaceuticals Company Profile

Acumen Pharmaceuticals, Inc (NASDAQ: ABOS) is a clinical-stage biopharmaceutical company focused on developing treatments for Alzheimer’s disease. The company’s research is centered on amyloid-beta oligomers, toxic protein assemblies that Acumen believes play a key role in the development and progression of neurodegenerative disease.

Acumen’s lead product candidate is sabirnetug, formerly known as ACU193, an investigational monoclonal antibody designed to selectively target amyloid-beta oligomers while avoiding much of the amyloid plaque targeted by some other Alzheimer’s therapies.