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

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

Acurx Pharmaceuticals Stock Up 3.7 %

NASDAQ ACXP traded up $0.03 during trading on Friday, reaching $0.78. 777,976 shares of the stock traded hands, compared to its average volume of 868,050. Acurx Pharmaceuticals has a fifty-two week low of $0.68 and a fifty-two week high of $5.28. The firm has a market cap of $13.16 million, a price-to-earnings ratio of -0.71 and a beta of -1.71. The stock’s 50-day moving average price is $1.17 and its 200 day moving average price is $1.77.

Acurx Pharmaceuticals (NASDAQ:ACXP) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.17) EPS for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.06. During the same quarter in the prior year, the firm posted ($0.24) earnings per share. Analysts anticipate that Acurx Pharmaceuticals will post -0.89 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO David P. Luci acquired 49,261 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were bought at an average cost of $1.01 per share, with a total value of $49,753.61. Following the completion of the transaction, the chief executive officer now directly owns 1,097,458 shares of the company’s stock, valued at $1,108,432.58. This trade represents a 4.70 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 29.60% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Acurx Pharmaceuticals stock. Geode Capital Management LLC increased its position in Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) by 12.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 146,500 shares of the company’s stock after buying an additional 16,485 shares during the quarter. Geode Capital Management LLC owned 0.90% of Acurx Pharmaceuticals worth $278,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 11.53% of the stock is currently owned by hedge funds and other institutional investors.

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.