Acumen Pharmaceuticals (NASDAQ:ABOS – Get Free Report)‘s stock had its “buy” rating reiterated by investment analysts at HC Wainwright in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $15.00 target price on the stock. HC Wainwright’s price target points to a potential upside of 447.45% from the company’s previous close.
Other analysts also recently issued reports about the stock. 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 research report on Thursday, August 15th. Citigroup raised shares of Acumen Pharmaceuticals to a “strong-buy” rating in a report on Friday, July 26th.
View Our Latest Report on Acumen Pharmaceuticals
Acumen Pharmaceuticals Stock Up 2.6 %
Acumen Pharmaceuticals (NASDAQ:ABOS – Get Free Report) last issued its quarterly earnings results on Tuesday, August 13th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($0.06). During the same period in the prior year, the company posted ($0.28) EPS. Equities research analysts predict that Acumen Pharmaceuticals will post -1.32 earnings per share for the current year.
Institutional Investors Weigh In On Acumen Pharmaceuticals
A number of institutional investors and hedge funds have recently added to or reduced their stakes in ABOS. Price T Rowe Associates Inc. MD bought a new stake in shares of Acumen Pharmaceuticals during the first quarter valued at approximately $4,449,000. Renaissance Technologies LLC purchased a new position in Acumen Pharmaceuticals during the second quarter worth $818,000. Bank of New York Mellon Corp purchased a new position in Acumen Pharmaceuticals during the second quarter worth $306,000. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Acumen Pharmaceuticals during the first quarter valued at $253,000. Finally, Murchinson Ltd. purchased a new stake in shares of Acumen Pharmaceuticals during the second quarter valued at $136,000. Institutional investors own 71.01% of the company’s stock.
About Acumen Pharmaceuticals
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.
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