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

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

Acurx Pharmaceuticals Stock Up 2.0 %

Acurx Pharmaceuticals stock traded up $0.01 during mid-day trading on Wednesday, hitting $0.41. 78,895 shares of the company’s stock traded hands, compared to its average volume of 150,644. Acurx Pharmaceuticals has a one year low of $0.40 and a one year high of $3.33. The company has a market cap of $8.12 million, a PE ratio of -0.38 and a beta of -1.71. The firm has a 50 day moving average price of $0.71 and a 200 day moving average price of $1.27.

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

Insider Activity

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 shares were acquired at an average cost of $1.01 per share, for a total transaction of $49,753.61. Following the acquisition, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 29.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Acurx Pharmaceuticals

An institutional investor recently raised its position in Acurx Pharmaceuticals stock. Geode Capital Management LLC increased its stake in Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) by 12.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 146,500 shares of the company’s stock after acquiring an additional 16,485 shares during the quarter. Geode Capital Management LLC owned approximately 0.90% of Acurx Pharmaceuticals worth $278,000 at the end of the most recent quarter. 11.53% of the stock is currently 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.