HC Wainwright Has Positive Forecast for ACXP FY2024 Earnings

Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) – HC Wainwright increased their FY2024 earnings per share estimates for shares of Acurx Pharmaceuticals in a research report issued on Thursday, November 14th. HC Wainwright analyst E. Arce now forecasts that the company will post earnings per share of ($0.89) for the year, up from their previous estimate of ($0.98). HC Wainwright currently has a “Buy” rating and a $12.00 target price on the stock. The consensus estimate for Acurx Pharmaceuticals’ current full-year earnings is ($0.89) per share. HC Wainwright also issued estimates for Acurx Pharmaceuticals’ Q4 2024 earnings at ($0.18) EPS, Q1 2025 earnings at ($0.38) EPS, Q2 2025 earnings at ($0.50) EPS, Q3 2025 earnings at ($0.59) EPS, Q4 2025 earnings at ($0.59) EPS, FY2025 earnings at ($2.06) EPS, FY2026 earnings at ($2.87) EPS, FY2027 earnings at ($3.18) EPS and FY2028 earnings at ($3.35) EPS.

Acurx Pharmaceuticals (NASDAQ:ACXP) last issued its 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 in the prior year, the business earned ($0.24) EPS.

Acurx Pharmaceuticals Stock Down 1.8 %

NASDAQ ACXP opened at $1.67 on Monday. The business has a 50 day moving average price of $1.94 and a 200-day moving average price of $2.13. Acurx Pharmaceuticals has a 52 week low of $1.52 and a 52 week high of $5.28. The company has a market cap of $28.21 million, a price-to-earnings ratio of -1.53 and a beta of -1.73.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Acurx Pharmaceuticals stock. Prospect Financial Services LLC raised its stake in shares of Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) by 6.1% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 295,075 shares of the company’s stock after purchasing an additional 16,975 shares during the period. Prospect Financial Services LLC owned approximately 1.86% of Acurx Pharmaceuticals worth $561,000 as of its most recent SEC filing. 11.53% of the stock is currently owned by institutional investors and hedge funds.

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.