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

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

Acurx Pharmaceuticals Price Performance

NASDAQ:ACXP opened at $0.93 on Tuesday. The firm has a market cap of $15.69 million, a PE ratio of -0.85 and a beta of -1.85. The company has a 50-day moving average of $1.68 and a 200 day moving average of $2.01. Acurx Pharmaceuticals has a 1-year low of $0.72 and a 1-year high of $5.28.

Acurx Pharmaceuticals (NASDAQ:ACXP) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.17) earnings per share for the quarter, topping the consensus estimate of ($0.23) by $0.06. During the same quarter in the previous year, the firm posted ($0.24) earnings per share. Sell-side analysts anticipate that Acurx Pharmaceuticals will post -0.89 EPS for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Acurx Pharmaceuticals stock. Geode Capital Management LLC boosted its stake in shares of Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) by 12.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 146,500 shares of the company’s stock after purchasing an additional 16,485 shares during the quarter. Geode Capital Management LLC owned about 0.90% of Acurx Pharmaceuticals worth $278,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 11.53% of the stock is currently owned by institutional investors and hedge funds.

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.