Acumen initiated with a Buy at Citi

Citi analyst David Hoang initiated coverage of Acumen Pharmaceuticals with a Buy rating and $7 price target. The company is developing sabirnetug to selectively target amyloid-beta oligomers in Alzheimer’s disease, an approach that differentiates from competitor mAbs, the analyst tells investors in a research note. The firm says efficacy and safety advantages over competitor mAbs could capture multi-billion-dollar sales for sabirnetug. With the stock currently trading under cash, Citi sees an attractive entry point to gain exposure to a “potentially best-in-class AD asset.”