H.C. Wainwright has initiated Acumen Pharmaceuticals (NASDAQ:ABOS) with a buy rating saying the biopharma's early-stage Alzheimer's candidate, ACU193, has promise.
The firm has a $15 price target (~207% return based on Wednesday's closing price).
Unlike many other Alzheimer's therapies in development -- and marketed ones such as Biogen's (BIIB) Aduhelm (aducanumab) -- that target the removal of beta amyloid plaque from the brain, ACU193 works differently as a anti-amyloid-beta oligomer (AβO) monoclonal antibody.
Analyst Andrew Fein noted that ACU193 "lacks the inflammatory effector functions of other [immunoglobulin] subclasses, thereby making it less prone to [amyloid-related imaging abnormalities], a major safety issue with current anti-[amyloid beta] therapies.
Acumen (ABOS) said ACU193 prevents toxic AβOs from binding to dendritic spines and preserves neural function. The company added the candidate has the potential for disease slowing as well as cognitive improvement.
The ongoing phase 1 trial is expected to enroll 62 subjects with mild cognitive impairment or mild dementia.