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

Acumen Pharmaceuticals (NASDAQ:ABOS) posted its quarterly earnings data on Tuesday. The company reported ($0.50) EPS for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.14), Zacks reports. During the same period last year, the company posted ($0.24) earnings per share.

Acumen Pharmaceuticals Price Performance

Shares of ABOS traded down $0.13 on Wednesday, hitting $2.54. The company’s stock had a trading volume of 136,330 shares, compared to its average volume of 327,090. The company has a quick ratio of 17.37, a current ratio of 17.37 and a debt-to-equity ratio of 0.12. Acumen Pharmaceuticals has a fifty-two week low of $2.01 and a fifty-two week high of $5.09. The company has a 50 day moving average price of $2.61 and a 200 day moving average price of $2.80.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ABOS. UBS Group dropped their price objective on Acumen Pharmaceuticals from $14.00 to $6.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. HC Wainwright restated a “buy” rating and set a $15.00 price target on shares of Acumen Pharmaceuticals in a research note on Wednesday. Finally, Citigroup upgraded Acumen Pharmaceuticals to a “strong-buy” rating in a research note on Friday, July 26th.

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.