Acurx Pharmaceuticals (NASDAQ:ACXP) Posts Earnings Results

Acurx Pharmaceuticals (NASDAQ:ACXP) released 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 Trading Down 7.4%

ACXP stock traded down $0.42 during midday trading on Wednesday, reaching $5.17. 63,383 shares of the company’s stock traded hands, compared to its average volume of 270,257. Acurx Pharmaceuticals has a 52-week low of $3.80 and a 52-week high of $37.80. The stock has a market cap of $8.16 million, a P/E ratio of -0.48 and a beta of -1.27. The stock’s 50-day moving average is $5.23 and its 200 day moving average is $6.84.

Hedge Funds Weigh In On Acurx Pharmaceuticals

An institutional investor recently bought a new position in Acurx Pharmaceuticals stock. Armistice Capital LLC purchased a new stake in shares of Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 1,078,540 shares of the company’s stock, valued at approximately $551,000. Armistice Capital LLC owned 70.13% of Acurx Pharmaceuticals as of its most recent filing with the Securities & Exchange Commission. 11.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

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.