Acurx Pharmaceuticals (NASDAQ:ACXP) Earns “Buy” Rating from HC Wainwright

Acurx Pharmaceuticals (NASDAQ:ACXP)‘s stock had its “buy” rating reissued by investment analysts at HC Wainwright in a report released on Wednesday,Benzinga reports. They presently have a $12.00 price objective on the stock.

Acurx Pharmaceuticals Stock Performance

Shares of ACXP stock traded up $0.01 on Wednesday, reaching $0.41. 78,895 shares of the company’s stock traded hands, compared to its average volume of 150,644. Acurx Pharmaceuticals has a 12-month low of $0.40 and a 12-month high of $3.33. The company has a market capitalization of $8.12 million, a P/E ratio of -0.38 and a beta of -1.71. The business’s 50 day moving average price is $0.71 and its two-hundred day moving average price is $1.27.

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

Insiders Place Their Bets

In related news, CEO David P. Luci purchased 49,261 shares of Acurx Pharmaceuticals stock in a transaction on Monday, January 6th. The stock was bought at an average price of $1.01 per share, with a total value of $49,753.61. Following the completion of the transaction, the chief executive officer now directly owns 1,097,458 shares of the company’s stock, valued at approximately $1,108,432.58. This represents 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 this link. Insiders own 29.60% of the company’s stock.

Hedge Funds Weigh In On Acurx Pharmaceuticals

An institutional investor recently raised its position 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 its most recent Form 13F filing with the SEC. The firm owned 146,500 shares of the company’s stock after purchasing an additional 16,485 shares during the period. Geode Capital Management LLC owned 0.90% of Acurx Pharmaceuticals worth $278,000 as of its most recent filing with the SEC. 11.53% of the stock is currently owned by 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.