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

HC Wainwright restated their buy rating on shares of Acurx Pharmaceuticals (NASDAQ:ACXP) in a research note released on Wednesday morning,Benzinga reports. HC Wainwright currently has a $12.00 price target on the stock. HC Wainwright also issued estimates for Acurx Pharmaceuticals’ Q1 2025 earnings at ($0.14) EPS, Q2 2025 earnings at ($0.29) EPS, Q3 2025 earnings at ($0.34) EPS, Q4 2025 earnings at ($0.37) EPS, FY2025 earnings at ($1.14) EPS, FY2026 earnings at ($1.49) EPS, FY2027 earnings at ($1.56) EPS, FY2028 earnings at ($1.57) EPS and FY2029 earnings at ($0.57) EPS.

Acurx Pharmaceuticals Stock Performance

Acurx Pharmaceuticals stock opened at $0.42 on Wednesday. The firm’s 50-day moving average is $0.69 and its 200-day moving average is $1.24. Acurx Pharmaceuticals has a 1 year low of $0.40 and a 1 year high of $3.33. The company has a market cap of $9.33 million, a P/E ratio of -0.39 and a beta of -1.71.

Acurx Pharmaceuticals (NASDAQ:ACXP) last posted its quarterly earnings results on Monday, March 17th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.02. As a group, sell-side analysts predict that Acurx Pharmaceuticals will post -0.89 earnings per share for the current year.

Insider Activity at Acurx Pharmaceuticals

In other news, CEO David P. Luci acquired 49,261 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were purchased at an average cost of $1.01 per share, for a total transaction of $49,753.61. Following the transaction, the chief executive officer now directly owns 1,097,458 shares in the company, valued at $1,108,432.58. This trade represents a 4.70 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 29.60% of the stock is currently owned by insiders.

Institutional Trading of Acurx Pharmaceuticals

A hedge fund recently raised its stake in Acurx Pharmaceuticals stock. Prospect Financial Services LLC boosted its position in Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) by 11.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 329,076 shares of the company’s stock after purchasing an additional 34,001 shares during the quarter. Prospect Financial Services LLC owned about 1.93% of Acurx Pharmaceuticals worth $268,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 11.53% of the company’s stock.

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.