HC Wainwright Reiterates “Buy” Rating for Acumen Pharmaceuticals (NASDAQ:ABOS)

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

Several other analysts have also recently commented on ABOS. UBS Group decreased their price objective on shares of Acumen Pharmaceuticals from $14.00 to $6.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. Citigroup upgraded shares of Acumen Pharmaceuticals to a “strong-buy” rating in a research note on Friday, July 26th.

Acumen Pharmaceuticals Stock Up 3.2 %

NASDAQ:ABOS opened at $2.61 on Wednesday. The company has a market cap of $156.81 million, a PE ratio of -1.89 and a beta of 0.04. Acumen Pharmaceuticals has a twelve month low of $2.08 and a twelve month high of $5.09. The company has a current ratio of 17.37, a quick ratio of 17.37 and a debt-to-equity ratio of 0.12. The company’s 50 day moving average is $2.61 and its two-hundred day moving average is $2.80.

Acumen Pharmaceuticals (NASDAQ:ABOS) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.50) EPS for the quarter, missing the consensus estimate of ($0.36) by ($0.14). During the same quarter last year, the business posted ($0.24) EPS. Analysts anticipate that Acumen Pharmaceuticals will post -1.32 EPS for the current year.

Hedge Funds Weigh In On Acumen Pharmaceuticals

Several large investors have recently made changes to their positions in the company. FMR LLC lifted its stake in shares of Acumen Pharmaceuticals by 0.3% in the 3rd 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 acquired a new position in Acumen Pharmaceuticals during the third quarter worth $44,000. Murchinson Ltd. acquired a new position in Acumen Pharmaceuticals during the second quarter worth $136,000. Renaissance Technologies LLC acquired a new position in Acumen Pharmaceuticals during the second quarter worth $818,000. Finally, American Century Companies Inc. raised its position in Acumen Pharmaceuticals by 31.3% during the second quarter. American Century Companies Inc. now owns 45,444 shares of the company’s stock worth $110,000 after acquiring an additional 10,840 shares during the period. 71.01% of the stock is currently owned by institutional investors and hedge funds.

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.