Acumen Pharmaceuticals’ (ABOS) “Buy” Rating Reiterated at HC Wainwright

Acumen Pharmaceuticals (NASDAQ:ABOS)‘s stock had its “buy” rating reaffirmed by HC Wainwright in a report released on Wednesday,Benzinga reports. They currently have a $15.00 price objective on the stock. HC Wainwright’s price objective would indicate a potential upside of 474.71% from the company’s previous close.

A number of other equities research analysts have also issued reports on ABOS. UBS Group dropped their target price on shares of Acumen Pharmaceuticals from $14.00 to $6.00 and set a “buy” rating for the company in a report on Thursday, August 15th. Citigroup raised shares of Acumen Pharmaceuticals to a “strong-buy” rating in a report on Friday, July 26th.

Acumen Pharmaceuticals Stock Performance

NASDAQ:ABOS opened at $2.61 on Wednesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 17.37 and a current ratio of 17.37. The company has a fifty day moving average of $2.61 and a two-hundred day moving average of $2.80. The stock has a market capitalization of $156.81 million, a PE ratio of -1.89 and a beta of 0.04. Acumen Pharmaceuticals has a fifty-two week low of $2.08 and a fifty-two week high of $5.09.

Acumen Pharmaceuticals (NASDAQ:ABOS) last released its earnings results on Tuesday, November 12th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.14). During the same period last year, the firm earned ($0.24) EPS. As a group, research analysts forecast that Acumen Pharmaceuticals will post -1.32 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Acumen Pharmaceuticals

A number of hedge funds have recently modified their holdings of the company. FMR LLC grew its holdings in shares of Acumen Pharmaceuticals by 0.3% in the third quarter. FMR LLC now owns 2,028,117 shares of the company’s stock valued at $5,030,000 after purchasing an additional 6,014 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Acumen Pharmaceuticals in the third quarter valued at about $44,000. Murchinson Ltd. purchased a new stake in shares of Acumen Pharmaceuticals in the second quarter valued at about $136,000. Renaissance Technologies LLC purchased a new stake in shares of Acumen Pharmaceuticals in the second quarter valued at about $818,000. Finally, American Century Companies Inc. grew its holdings in shares of Acumen Pharmaceuticals by 31.3% in the second quarter. American Century Companies Inc. now owns 45,444 shares of the company’s stock valued at $110,000 after purchasing an additional 10,840 shares during the period. Hedge funds and other institutional investors own 71.01% of the company’s stock.

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.