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

Acurx Pharmaceuticals (NASDAQ:ACXP)‘s stock had its “buy” rating reaffirmed by investment analysts at HC Wainwright in a report released on Wednesday,Benzinga reports. They presently have a $12.00 price target on the stock. HC Wainwright also issued estimates for Acurx Pharmaceuticals’ FY2029 earnings at ($0.57) EPS.

Acurx Pharmaceuticals Stock Up 0.1 %

ACXP opened at $0.42 on Wednesday. Acurx Pharmaceuticals has a 52 week low of $0.40 and a 52 week high of $3.33. The business has a fifty day simple moving average of $0.69 and a 200-day simple moving average of $1.26. The firm has a market cap of $8.22 million, a P/E ratio of -0.38 and a beta of -1.71.

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

Insider Activity at Acurx Pharmaceuticals

In related news, CEO David P. Luci bought 49,261 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was purchased at an average cost of $1.01 per share, for a total transaction of $49,753.61. Following the completion of the acquisition, the chief executive officer now owns 1,097,458 shares in the company, valued at approximately $1,108,432.58. This trade represents a 4.70 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 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 lifted its stake in Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) by 11.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 329,076 shares of the company’s stock after purchasing an additional 34,001 shares during the period. Prospect Financial Services LLC owned about 1.93% of Acurx Pharmaceuticals worth $268,000 at the end of the most recent quarter. 11.53% of the stock is owned by institutional investors and hedge funds.

About Acurx Pharmaceuticals

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.