Acurx Pharmaceuticals (NASDAQ:ACXP) Issues Earnings Results

Acurx Pharmaceuticals (NASDAQ:ACXP) issued its earnings results on Wednesday. The company reported ($1.23) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.61) by $0.38, FiscalAI reports.

Acurx Pharmaceuticals Price Performance

Shares of Acurx Pharmaceuticals stock traded down $0.07 on Friday, hitting $4.68. The company had a trading volume of 18,907 shares, compared to its average volume of 268,199. The company has a market cap of $9.73 million, a PE ratio of -0.55 and a beta of -1.27. Acurx Pharmaceuticals has a 52 week low of $3.80 and a 52 week high of $35.80. The business has a 50-day simple moving average of $5.27 and a 200-day simple moving average of $6.81.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Wall Street Zen cut shares of Acurx Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Sunday, October 19th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Acurx Pharmaceuticals in a research note on Wednesday, October 8th. Finally, HC Wainwright restated a “buy” rating and set a $31.00 price target on shares of Acurx Pharmaceuticals in a research note on Tuesday, September 30th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $31.00.

Institutional Investors Weigh In On Acurx Pharmaceuticals

An institutional investor recently bought a new position in Acurx Pharmaceuticals stock. Armistice Capital LLC bought a new position in Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 1,078,540 shares of the company’s stock, valued at approximately $551,000. Armistice Capital LLC owned about 70.13% of Acurx Pharmaceuticals at the end of the most recent reporting period. 11.53% of the stock is currently owned by institutional investors.

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.