Acurx Pharmaceuticals’ (ACXP) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Acurx Pharmaceuticals (NASDAQ:ACXP) in a research note released on Tuesday,Benzinga reports. The brokerage currently has a $31.00 price objective on the stock.

Separately, Wall Street Zen upgraded Acurx Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Sunday, September 21st. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Acurx Pharmaceuticals currently has an average rating of “Buy” and a consensus target price of $31.00.

Acurx Pharmaceuticals Trading Down 0.9%

Shares of NASDAQ:ACXP opened at $4.56 on Tuesday. Acurx Pharmaceuticals has a 1 year low of $3.80 and a 1 year high of $44.00. The business has a fifty day simple moving average of $4.83 and a 200 day simple moving average of $7.14. The firm has a market cap of $7.20 million, a price-to-earnings ratio of -0.43 and a beta of -1.29.

Acurx Pharmaceuticals (NASDAQ:ACXP) last announced its quarterly earnings data on Monday, August 11th. The company reported ($1.89) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.00) by $0.11. On average, sell-side analysts forecast that Acurx Pharmaceuticals will post -0.89 EPS for the current year.

Hedge Funds Weigh In On Acurx Pharmaceuticals

Institutional investors have recently bought and sold shares of the stock. Vanguard Capital Wealth Advisors bought a new position in Acurx Pharmaceuticals during the first quarter valued at about $26,000. O Brien Greene & Co. Inc bought a new position in Acurx Pharmaceuticals during the second quarter valued at about $31,000. Prospect Financial Services LLC raised its holdings in Acurx Pharmaceuticals by 11.4% during the first quarter. Prospect Financial Services LLC now owns 366,576 shares of the company’s stock valued at $143,000 after buying an additional 37,500 shares in the last quarter. Finally, Armistice Capital LLC acquired a new stake in shares of Acurx Pharmaceuticals in the second quarter valued at about $551,000. 11.53% of the stock is currently owned by institutional investors.

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.