HC Wainwright Reiterates “Buy” Rating for Acurx Pharmaceuticals (NASDAQ:ACXP)

HC Wainwright restated their buy rating on shares of Acurx Pharmaceuticals (NASDAQ:ACXP) in a report published on Thursday morning,Benzinga reports. They currently have a $12.00 price target on the stock.

Acurx Pharmaceuticals Trading Down 2.8 %

Acurx Pharmaceuticals stock opened at $1.72 on Thursday. The stock has a 50-day moving average price of $1.95 and a 200 day moving average price of $2.14. Acurx Pharmaceuticals has a 52 week low of $1.52 and a 52 week high of $5.28. The stock has a market cap of $29.05 million, a PE ratio of -1.58 and a beta of -1.73.

Acurx Pharmaceuticals (NASDAQ:ACXP) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.23) by $0.06. During the same quarter last year, the firm earned ($0.24) EPS. On average, equities analysts predict that Acurx Pharmaceuticals will post -0.89 EPS for the current year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Acurx Pharmaceuticals stock. Prospect Financial Services LLC boosted its holdings in Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) by 1.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 278,100 shares of the company’s stock after buying an additional 5,250 shares during the period. Prospect Financial Services LLC owned 1.76% of Acurx Pharmaceuticals worth $626,000 at the end of the most recent reporting period. 11.53% of the stock is currently owned by institutional investors.

Acurx Pharmaceuticals Company Profile

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.