What is HC Wainwright’s Estimate for ABOS FY2024 Earnings?

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) – Research analysts at HC Wainwright decreased their FY2024 EPS estimates for Acumen Pharmaceuticals in a research report issued on Wednesday, November 13th. HC Wainwright analyst A. Fein now expects that the company will earn ($1.46) per share for the year, down from their previous estimate of ($1.01). HC Wainwright has a “Buy” rating and a $15.00 price objective 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.

Several other equities research analysts have also recently commented on the stock. UBS Group lowered their price target on shares of Acumen Pharmaceuticals from $14.00 to $6.00 and set a “buy” rating for the company in a research 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

ABOS stock opened at $2.40 on Monday. The stock has a market capitalization of $144.19 million, a PE ratio of -1.74 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. 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 company has a 50 day moving average price of $2.62 and a 200 day moving average price of $2.79.

Acumen Pharmaceuticals (NASDAQ:ABOS) last announced its earnings results on Tuesday, November 12th. The company reported ($0.50) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.14). During the same quarter in the prior year, the business posted ($0.24) earnings per share.

Hedge Funds Weigh In On Acumen Pharmaceuticals

A number of large investors have recently modified their holdings of ABOS. Gladius Capital Management LP bought a new position in Acumen Pharmaceuticals in the second quarter valued at approximately $26,000. SG Americas Securities LLC acquired a new position in Acumen Pharmaceuticals during the third quarter worth $44,000. American Century Companies Inc. grew its position in shares of 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 acquiring an additional 10,840 shares during the period. Rhumbline Advisers acquired a new position in shares of Acumen Pharmaceuticals during the 2nd quarter worth about $127,000. Finally, Murchinson Ltd. acquired a new stake in Acumen Pharmaceuticals in the 2nd quarter valued at about $136,000. 71.01% of the stock is currently owned by institutional investors and hedge funds.

About Acumen Pharmaceuticals

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.