Acurx Pharmaceuticals (NASDAQ:ACXP) Announces Quarterly Earnings Results

Acurx Pharmaceuticals (NASDAQ:ACXP) posted its quarterly earnings data on Wednesday. The company reported ($1.23) EPS for the quarter, beating the consensus estimate of ($1.61) by $0.38, FiscalAI reports.

Acurx Pharmaceuticals Price Performance

Acurx Pharmaceuticals stock opened at $5.09 on Thursday. The stock has a market capitalization of $10.59 million, a P/E ratio of -0.48 and a beta of -1.27. The firm’s 50-day moving average is $5.25 and its two-hundred day moving average is $6.83. Acurx Pharmaceuticals has a 12-month low of $3.80 and a 12-month high of $37.00.

Hedge Funds Weigh In On Acurx Pharmaceuticals

A hedge fund recently bought a new stake in Acurx Pharmaceuticals stock. Armistice Capital LLC purchased a new stake in Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,078,540 shares of the company’s stock, valued at approximately $551,000. Armistice Capital LLC owned approximately 70.13% of Acurx Pharmaceuticals at the end of the most recent reporting period. 11.53% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ACXP has been the topic of a number of research analyst reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Acurx Pharmaceuticals in a research report on Wednesday, October 8th. Wall Street Zen downgraded Acurx Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Sunday, October 19th. Finally, HC Wainwright restated a “buy” rating and set a $31.00 price objective on shares of Acurx Pharmaceuticals in a research report on Tuesday, September 30th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $31.00.

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.