Acumen Pharmaceuticals (NASDAQ:ABOS) Price Target Raised to $5.00

Acumen Pharmaceuticals (NASDAQ:ABOS) had its price target raised by Citigroup from $4.00 to $5.00 in a report released on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities analysts also recently issued reports on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Acumen Pharmaceuticals in a report on Monday, July 6th. Wall Street Zen cut shares of Acumen Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Sunday, July 12th. Four research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Acumen Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $7.00.

Acumen Pharmaceuticals Stock Down 1.5%

Acumen Pharmaceuticals stock opened at $2.57 on Tuesday. The stock has a market cap of $185.86 million, a PE ratio of -1.58 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. Acumen Pharmaceuticals has a one year low of $1.22 and a one year high of $3.60. The stock has a fifty day moving average of $2.63 and a 200 day moving average of $2.61.

Acumen Pharmaceuticals (NASDAQ:ABOS) last announced its earnings results on Wednesday, August 12th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by ($0.09). As a group, sell-side analysts predict that Acumen Pharmaceuticals will post -1.6 EPS for the current year.

Institutional Trading of Acumen Pharmaceuticals

Several hedge funds have recently bought and sold shares of the stock. ADAR1 Capital Management LLC purchased a new position in shares of Acumen Pharmaceuticals during the 2nd quarter valued at about $5,637,000. BlackRock Inc. purchased a new stake in Acumen Pharmaceuticals in the 2nd quarter worth approximately $6,649,000. SG Americas Securities LLC increased its holdings in Acumen Pharmaceuticals by 79.3% in the 1st quarter. SG Americas Securities LLC now owns 719,257 shares of the company’s stock worth $1,697,000 after acquiring an additional 318,210 shares in the last quarter. Deutsche Bank AG bought a new stake in Acumen Pharmaceuticals during the 2nd quarter worth approximately $123,000. Finally, OMERS ADMINISTRATION Corp raised its stake in Acumen Pharmaceuticals by 27.4% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 28,600 shares of the company’s stock worth $67,000 after acquiring an additional 6,146 shares during the period. Institutional investors own 71.01% of the company’s stock.

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.