HC Wainwright Reaffirms Buy Rating for Acurx Pharmaceuticals (NASDAQ:ACXP)

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

Acurx Pharmaceuticals Price Performance

Shares of ACXP stock opened at $0.81 on Friday. The firm has a market cap of $13.65 million, a PE ratio of -0.74 and a beta of -1.71. Acurx Pharmaceuticals has a 1-year low of $0.68 and a 1-year high of $5.28. The company has a 50-day moving average of $1.15 and a two-hundred day moving average of $1.76.

Acurx Pharmaceuticals (NASDAQ:ACXP) last released its earnings results on Tuesday, November 12th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.23) by $0.06. During the same period last year, the firm posted ($0.24) EPS. Sell-side analysts anticipate that Acurx Pharmaceuticals will post -0.89 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO David P. Luci purchased 49,261 shares of the firm’s stock in a transaction dated 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 purchase, the chief executive officer now directly owns 1,097,458 shares of the company’s stock, valued at $1,108,432.58. The trade was a 4.70 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 29.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Acurx Pharmaceuticals

An institutional investor recently raised its position in Acurx Pharmaceuticals stock. Prospect Financial Services LLC lifted its position in shares of Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) by 6.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 295,075 shares of the company’s stock after acquiring an additional 16,975 shares during the quarter. Prospect Financial Services LLC owned 1.86% of Acurx Pharmaceuticals worth $561,000 at the end of the most recent quarter. Institutional investors own 11.53% of the company’s stock.

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.