Acurx Pharmaceuticals (NASDAQ:ACXP) Given Buy Rating at HC Wainwright

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

Acurx Pharmaceuticals Stock Performance

NASDAQ ACXP opened at $0.42 on Wednesday. The firm’s fifty day moving average is $0.70 and its two-hundred day moving average is $1.26. Acurx Pharmaceuticals has a one year low of $0.40 and a one year high of $3.33. The firm has a market cap of $8.21 million, a PE ratio of -0.38 and a beta of -1.71.

Acurx Pharmaceuticals (NASDAQ:ACXP) last issued its quarterly earnings results on Monday, March 17th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.02. Research analysts predict that Acurx Pharmaceuticals will post -0.89 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO David P. Luci purchased 49,261 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were acquired at an average cost of $1.01 per share, for a total transaction of $49,753.61. Following the completion of the purchase, the chief executive officer now directly owns 1,097,458 shares in the company, valued at $1,108,432.58. The trade was a 4.70 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 29.60% of the company’s stock.

Institutional Investors Weigh In On Acurx Pharmaceuticals

A hedge fund recently raised its stake in Acurx Pharmaceuticals stock. Geode Capital Management LLC lifted its holdings in 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 buying an additional 16,485 shares during the quarter. Geode Capital Management LLC owned 0.90% of Acurx Pharmaceuticals worth $278,000 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.