Acumen Pharmaceuticals (NASDAQ:ABOS) Announces Quarterly Earnings Results, Misses Expectations By $0.06 EPS

Acumen Pharmaceuticals (NASDAQ:ABOS) released its quarterly earnings data on Tuesday. The company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($0.06), Yahoo Finance reports. During the same quarter last year, the business earned ($0.28) earnings per share.

Acumen Pharmaceuticals Price Performance

NASDAQ ABOS traded up $0.06 during trading hours on Thursday, hitting $2.58. The company had a trading volume of 141,612 shares, compared to its average volume of 383,195. Acumen Pharmaceuticals has a 52 week low of $1.81 and a 52 week high of $7.12. The firm has a 50 day simple moving average of $2.70 and a 200 day simple moving average of $3.28. The company has a debt-to-equity ratio of 0.12, a quick ratio of 30.20 and a current ratio of 30.20. The firm has a market capitalization of $154.71 million, a price-to-earnings ratio of -2.42 and a beta of 0.11.

Wall Street Analysts Forecast Growth

ABOS has been the topic of a number of recent research reports. HC Wainwright reissued a “buy” rating and set a $15.00 price target on shares of Acumen Pharmaceuticals in a research note on Wednesday. Citigroup raised Acumen Pharmaceuticals to a “strong-buy” rating in a research note on Friday, July 26th. Finally, UBS Group reduced their target price on Acumen Pharmaceuticals from $14.00 to $6.00 and set a “buy” rating on the stock in a report on Thursday.

Acumen Pharmaceuticals Company Profile

Acumen Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, discovers and develops therapies for the treatment of Alzheimer's disease. The company focuses on advancing a targeted immunotherapy drug candidate ACU193, a humanized monoclonal antibody that is in Phase I clinical-stage to target soluble amyloid-beta oligomers.