Acurx Pharmaceuticals (NASDAQ:ACXP) Downgraded to “Sell” Rating by Wall Street Zen

Wall Street Zen lowered shares of Acurx Pharmaceuticals (NASDAQ:ACXP) from a hold rating to a sell rating in a research note issued to investors on Friday morning.

Several other brokerages have also recently issued reports on ACXP. Weiss Ratings reiterated a “sell (e+)” rating on shares of Acurx Pharmaceuticals in a research note on Saturday, September 27th. HC Wainwright restated a “buy” rating and issued a $31.00 price objective on shares of Acurx Pharmaceuticals in a report on Tuesday, September 30th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Acurx Pharmaceuticals currently has a consensus rating of “Hold” and an average target price of $31.00.

Acurx Pharmaceuticals Stock Performance

NASDAQ:ACXP opened at $4.55 on Friday. Acurx Pharmaceuticals has a one year low of $3.80 and a one year high of $44.00. The stock has a market cap of $7.19 million, a PE ratio of -0.43 and a beta of -1.29. The stock has a 50 day moving average price of $4.76 and a 200 day moving average price of $7.10.

Acurx Pharmaceuticals (NASDAQ:ACXP) last issued its quarterly earnings data on Monday, August 11th. The company reported ($1.89) earnings per share for the quarter, topping the consensus estimate of ($2.00) by $0.11. As a group, analysts predict that Acurx Pharmaceuticals will post -0.89 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Acurx Pharmaceuticals

Large investors have recently bought and sold shares of the company. Prospect Financial Services LLC lifted its stake in shares of Acurx Pharmaceuticals by 11.4% in the 1st quarter. Prospect Financial Services LLC now owns 366,576 shares of the company’s stock worth $143,000 after acquiring an additional 37,500 shares during the period. Vanguard Capital Wealth Advisors purchased a new position in Acurx Pharmaceuticals during the first quarter worth about $26,000. O Brien Greene & Co. Inc acquired a new stake in Acurx Pharmaceuticals in the second quarter valued at about $31,000. Finally, Armistice Capital LLC acquired a new stake in Acurx Pharmaceuticals in the second quarter valued at about $551,000. Hedge funds and other institutional investors own 11.53% of the company’s stock.

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.