Wall Street Zen Upgrades Acurx Pharmaceuticals (NASDAQ:ACXP) to “Hold”

Wall Street Zen upgraded shares of Acurx Pharmaceuticals (NASDAQ:ACXP) from a sell rating to a hold rating in a research note published on Sunday.

Separately, HC Wainwright increased their price target on shares of Acurx Pharmaceuticals to $31.00 and gave the stock a “buy” rating in a report on Tuesday, August 12th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $31.00.

Acurx Pharmaceuticals Trading Up 0.2%

Shares of ACXP stock opened at $4.09 on Friday. The company has a market capitalization of $6.46 million, a P/E ratio of -0.38 and a beta of -1.29. The business’s 50 day moving average is $5.48 and its two-hundred day moving average is $7.36. Acurx Pharmaceuticals has a twelve month low of $3.80 and a twelve month high of $44.00.

Acurx Pharmaceuticals (NASDAQ:ACXP) last issued its quarterly earnings results on Monday, August 11th. The company reported ($1.89) earnings per share for the quarter, topping the consensus estimate of ($2.00) by $0.11. As a group, equities analysts predict that Acurx Pharmaceuticals will post -0.89 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Acurx Pharmaceuticals

A number of institutional investors have recently made changes to their positions in the stock. Armistice Capital LLC acquired a new stake in shares of Acurx Pharmaceuticals during the second quarter valued at $551,000. O Brien Greene & Co. Inc acquired a new position in Acurx Pharmaceuticals in the 2nd quarter valued at about $31,000. Vanguard Capital Wealth Advisors purchased a new position in Acurx Pharmaceuticals in the 1st quarter valued at about $26,000. Finally, Prospect Financial Services LLC lifted its holdings in Acurx Pharmaceuticals by 11.4% in the 1st quarter. Prospect Financial Services LLC now owns 366,576 shares of the company’s stock valued at $143,000 after purchasing an additional 37,500 shares in the last quarter. 11.53% of the stock is owned by institutional investors and hedge funds.

About Acurx Pharmaceuticals

Acurx Pharmaceuticals, Inc, a clinical stage biopharmaceutical company, develops antibiotics to treat bacterial infections. The company's lead antibiotic candidate is ibezapolstat, a novel mechanism of action that targets the polymerase IIIC enzyme that is in Phase 2b clinical trial to treat patients with clostridium difficile infections.