Acurx Pharmaceuticals (NASDAQ:ACXP) Raised to “Hold” at Wall Street Zen

Acurx Pharmaceuticals (NASDAQ:ACXP) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Sunday.

Separately, HC Wainwright increased their price target on Acurx Pharmaceuticals to $31.00 and gave the company a “buy” rating in a report on Tuesday, August 12th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $31.00.

Acurx Pharmaceuticals Stock Performance

NASDAQ:ACXP opened at $4.08 on Friday. Acurx Pharmaceuticals has a one year low of $3.80 and a one year high of $44.00. The stock has a market cap of $6.45 million, a PE ratio of -0.38 and a beta of -1.29. The stock has a 50 day moving average price of $5.57 and a 200 day moving average price of $7.39.

Acurx Pharmaceuticals (NASDAQ:ACXP) last posted its quarterly earnings results on Monday, August 11th. The company reported ($1.89) EPS for the quarter, beating the consensus estimate of ($2.00) by $0.11. As a group, analysts predict that Acurx Pharmaceuticals will post -0.89 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ACXP. Vanguard Capital Wealth Advisors acquired a new stake in Acurx Pharmaceuticals in the first quarter valued at $26,000. Prospect Financial Services LLC raised its stake in Acurx Pharmaceuticals by 11.4% in the first quarter. Prospect Financial Services LLC now owns 366,576 shares of the company’s stock valued at $143,000 after buying an additional 37,500 shares in the last quarter. Armistice Capital LLC acquired a new stake in Acurx Pharmaceuticals in the second quarter valued at $551,000. Finally, O Brien Greene & Co. Inc acquired a new stake in Acurx Pharmaceuticals in the second quarter valued at $31,000. 11.53% of the stock is currently owned by hedge funds and other institutional investors.

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.