Acurx Pharmaceuticals (NASDAQ:ACXP) Shares Up 2.2% – Here’s What Happened

Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP)’s share price shot up 2.2% on Thursday . The company traded as high as $1.42 and last traded at $1.42. 109,808 shares traded hands during mid-day trading, an increase of 20% from the average session volume of 91,223 shares. The stock had previously closed at $1.39.

Analysts Set New Price Targets

Several brokerages have commented on ACXP. Weiss Ratings reissued a “sell (e+)” rating on shares of Acurx Pharmaceuticals in a research report on Friday, July 17th. Wall Street Zen raised Acurx Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $31.00.

Acurx Pharmaceuticals Stock Performance

The company has a market cap of $6.11 million, a price-to-earnings ratio of -0.35 and a beta of -2.05. The firm has a fifty day moving average price of $1.61 and a 200 day moving average price of $2.29.

Acurx Pharmaceuticals (NASDAQ:ACXP) last released its earnings results on Tuesday, May 12th. The company reported ($0.62) earnings per share for the quarter, missing the consensus estimate of ($0.59) by ($0.03). On average, analysts expect that Acurx Pharmaceuticals, Inc. will post -1.94 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Jane Street Group LLC bought a new stake in shares of Acurx Pharmaceuticals in the 4th quarter valued at about $27,000. Geode Capital Management LLC acquired a new stake in Acurx Pharmaceuticals in the 4th quarter valued at about $31,000. Millennium Management LLC bought a new position in Acurx Pharmaceuticals during the fourth quarter worth about $103,000. Finally, Armistice Capital LLC bought a new position in Acurx Pharmaceuticals during the second quarter worth about $551,000. 11.53% of the stock is currently owned by institutional investors and hedge funds.

Acurx Pharmaceuticals Company Profile

Acurx Pharmaceuticals, Inc, headquartered in King of Prussia, Pennsylvania, is a clinical‐stage biopharmaceutical company focused on the discovery and development of novel anti‐infective therapies. The company’s research platform leverages insights into bacterial virulence regulation and quorum sensing pathways to design small-molecule candidates aimed at reducing pathogen toxicity and biofilm formation. By targeting key mechanisms of infection rather than bacterial viability alone, Acurx seeks to offer differentiated treatment options that may help address the growing challenge of antibiotic resistance.

Acurx’s lead product candidates are being developed to treat acute bacterial skin and skin structure infections (ABSSSI), including cases caused by drug-resistant strains such as methicillin-resistant Staphylococcus aureus (MRSA).