Acurx Pharmaceuticals (NASDAQ:ACXP) Rating Lowered to Sell at Wall Street Zen

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

Several other analysts have also recently issued reports on ACXP. HC Wainwright reaffirmed a “buy” rating and set a $31.00 price objective on shares of Acurx Pharmaceuticals in a research note on Tuesday, September 30th. Weiss Ratings restated a “sell (e+)” rating on shares of Acurx Pharmaceuticals in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $31.00.

Acurx Pharmaceuticals Stock Up 2.5%

ACXP stock opened at $6.97 on Friday. Acurx Pharmaceuticals has a 52 week low of $3.80 and a 52 week high of $40.40. The stock has a market capitalization of $11.01 million, a P/E ratio of -0.65 and a beta of -1.29. The firm has a 50-day simple moving average of $4.95 and a 200-day simple moving average of $7.01.

Acurx Pharmaceuticals (NASDAQ:ACXP) last announced its quarterly earnings data on Monday, August 11th. The company reported ($1.89) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.00) by $0.11. On average, analysts expect that Acurx Pharmaceuticals will post -0.89 earnings per share for the current year.

Institutional Trading of Acurx Pharmaceuticals

A hedge fund recently bought a new stake in Acurx Pharmaceuticals stock. Armistice Capital LLC bought a new position in shares of Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 quarter. 11.53% of the stock is owned by institutional investors and hedge funds.

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.