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

Acurx Pharmaceuticals (NASDAQ:ACXP)‘s stock had its “buy” rating reiterated by equities researchers at HC Wainwright in a report released on Thursday,Benzinga reports. They currently have a $12.00 price target on the stock.

Acurx Pharmaceuticals Stock Performance

ACXP stock opened at $1.72 on Thursday. Acurx Pharmaceuticals has a one year low of $1.52 and a one year high of $5.28. The stock has a market capitalization of $27.94 million, a P/E ratio of -1.58 and a beta of -1.73. The company has a 50 day moving average price of $1.95 and a two-hundred day moving average price of $2.14.

Acurx Pharmaceuticals (NASDAQ:ACXP) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.17) EPS for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.06. During the same quarter last year, the company posted ($0.24) EPS. Research analysts forecast that Acurx Pharmaceuticals will post -0.98 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Acurx Pharmaceuticals stock. Prospect Financial Services LLC grew its position in Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) by 1.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 278,100 shares of the company’s stock after purchasing an additional 5,250 shares during the period. Prospect Financial Services LLC owned approximately 1.76% of Acurx Pharmaceuticals worth $626,000 as of its most recent SEC filing. 11.53% of the stock is 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.