Aclarion (NASDAQ:ACON) Given New $7.50 Price Target at Ascendiant Capital Markets

Aclarion (NASDAQ:ACON) had its price objective hoisted by Ascendiant Capital Markets from $7.00 to $7.50 in a research note released on Friday,Benzinga reports. Ascendiant Capital Markets currently has a buy rating on the stock.

A number of other research analysts have also issued reports on the stock. Weiss Ratings upgraded shares of Aclarion from a “sell (e)” rating to a “sell (e+)” rating in a research note on Friday, May 22nd. Wall Street Zen upgraded shares of Aclarion from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $7.50.

Aclarion Trading Up 4.1%

Aclarion stock opened at $3.28 on Friday. Aclarion has a 1-year low of $2.34 and a 1-year high of $12.03. The firm’s fifty day simple moving average is $3.29 and its 200-day simple moving average is $4.12. The company has a market capitalization of $8.07 million, a P/E ratio of -0.36 and a beta of 1.18.

Aclarion (NASDAQ:ACON) last posted its earnings results on Wednesday, May 13th. The company reported ($1.34) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.55) by $0.21. Aclarion had a negative net margin of 10,320.51% and a negative return on equity of 54.41%. The business had revenue of $0.02 million for the quarter, compared to analyst estimates of $0.03 million. On average, equities research analysts predict that Aclarion will post -4.37 earnings per share for the current year.

Aclarion declared that its board has approved a share repurchase program on Wednesday, April 22nd that allows the company to buyback $2.50 million in shares. This buyback authorization allows the company to repurchase up to 31% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Aclarion Company Profile

Aclarion, Inc, a healthcare technology company, leverages for Magnetic Resonance Spectroscopy (MRS) in the United States. It develops NOCISCAN Post-Processor suite of software applications comprising NOCICALC that receives the raw un-processed NOCISCAN MRS exam data and post-processes that raw data into final spectra and performs various degenerative pain biomarker; and NOCIGRAM, a clinical decision support software. The company was formerly known as Nocimed, Inc and changed its name to Aclarion, Inc in December 2021.