FY2024 Earnings Estimate for ABOS Issued By HC Wainwright

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) – Analysts at HC Wainwright cut their FY2024 earnings estimates for shares of Acumen Pharmaceuticals in a research report issued on Wednesday, November 13th. HC Wainwright analyst A. Fein now anticipates that the company will post earnings per share of ($1.46) for the year, down from their prior estimate of ($1.01). HC Wainwright has a “Buy” rating and a $15.00 price target on the stock. The consensus estimate for Acumen Pharmaceuticals’ current full-year earnings is ($1.56) per share. HC Wainwright also issued estimates for Acumen Pharmaceuticals’ Q4 2024 earnings at ($0.37) EPS, FY2025 earnings at ($1.55) EPS, FY2026 earnings at ($1.80) EPS, FY2027 earnings at ($1.96) EPS and FY2028 earnings at ($1.82) EPS.

Acumen Pharmaceuticals (NASDAQ:ABOS) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.50) earnings per share for the quarter, missing the consensus estimate of ($0.36) by ($0.14). During the same period in the previous year, the business posted ($0.24) EPS.

Several other research analysts also recently commented on ABOS. UBS Group reduced their price objective on 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 report on Friday, July 26th.

Acumen Pharmaceuticals Stock Performance

NASDAQ ABOS opened at $2.24 on Monday. The company has a debt-to-equity ratio of 0.14, a current ratio of 10.43 and a quick ratio of 17.37. The stock’s 50 day simple moving average is $2.61 and its 200-day simple moving average is $2.78. The company has a market cap of $134.58 million, a PE ratio of -1.62 and a beta of 0.04. Acumen Pharmaceuticals has a 1-year low of $2.08 and a 1-year high of $5.09.

Institutional Investors Weigh In On Acumen Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. FMR LLC increased its position in Acumen Pharmaceuticals by 0.3% during the third quarter. FMR LLC now owns 2,028,117 shares of the company’s stock worth $5,030,000 after purchasing an additional 6,014 shares during the last quarter. American Century Companies Inc. boosted its holdings in Acumen Pharmaceuticals by 31.3% in the 2nd 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 last quarter. Gladius Capital Management LP purchased a new stake in shares of Acumen Pharmaceuticals in the 2nd quarter valued at approximately $26,000. SG Americas Securities LLC acquired a new stake in shares of Acumen Pharmaceuticals during the 1st quarter worth approximately $52,000. Finally, Barclays PLC raised its position in shares of Acumen Pharmaceuticals by 189.1% during the 3rd quarter. Barclays PLC now owns 61,997 shares of the company’s stock valued at $154,000 after buying an additional 40,551 shares during the period. Institutional investors and hedge funds 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.