Andrew Fein, an analyst from H.C. Wainwright, maintained the Buy rating on Acumen Pharmaceuticals (ABOS – Research Report). The associated price target was lowered to $11.00.
Andrew Fein has given his Buy rating due to a combination of factors that highlight the potential of Acumen Pharmaceuticals’ approach in the Alzheimer’s disease (AD) therapeutic landscape. The company’s focus on sabirnetug, which targets oligomeric Abeta, is seen as a promising strategy given its differentiation in efficacy and safety. This approach is crucial as it addresses a significant toxic species in the brain, potentially offering a competitive edge over existing treatments.
Furthermore, the successful completion of the healthy volunteer study for the subcutaneous formulation of sabirnetug, despite some mild injection site reactions, suggests a favorable safety profile that could facilitate future trials and adoption. Additionally, Acumen’s use of ptau217 screening assays in the ALTITUDE-AD trial has effectively enriched the patient population, ensuring that the right participants are selected, which could lead to more reliable trial outcomes. These strategic moves, along with a reevaluation of operational expenses, have led to a revised price target of $11, reinforcing the Buy recommendation.
According to TipRanks, Fein is a 3-star analyst with an average return of 1.9% and a 39.23% success rate. Fein covers the Healthcare sector, focusing on stocks such as Neurocrine, Palvella Therapeutics, and Stoke Therapeutics.
In another report released today, Bank of America Securities also reiterated a Buy rating on the stock with a $10.00 price target.