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

Acurx Pharmaceuticals (NASDAQ:ACXP)‘s stock had its “buy” rating restated by equities researchers at HC Wainwright in a note issued to investors on Friday,Benzinga reports. They currently have a $12.00 target price on the stock.

Acurx Pharmaceuticals Price Performance

Shares of ACXP traded up $0.03 during trading hours on Friday, hitting $0.78. 777,976 shares of the stock were exchanged, compared to its average volume of 868,050. The firm has a market capitalization of $13.16 million, a P/E ratio of -0.71 and a beta of -1.71. Acurx Pharmaceuticals has a fifty-two week low of $0.68 and a fifty-two week high of $5.28. The business has a 50-day moving average of $1.17 and a 200-day moving average of $1.77.

Acurx Pharmaceuticals (NASDAQ:ACXP) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.17) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.06. During the same period last year, the company earned ($0.24) EPS. As a group, analysts forecast that Acurx Pharmaceuticals will post -0.89 earnings per share for the current fiscal year.

Insider Activity

In other Acurx Pharmaceuticals news, CEO David P. Luci purchased 49,261 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were acquired at an average price of $1.01 per share, with a total value of $49,753.61. Following the transaction, the chief executive officer now owns 1,097,458 shares in the company, valued at $1,108,432.58. The trade was a 4.70 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 29.60% of the stock is currently owned by company insiders.

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% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 295,075 shares of the company’s stock after acquiring an additional 16,975 shares during the period. Prospect Financial Services LLC owned about 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.