HC Wainwright Reiterates Buy Rating for Acurx Pharmaceuticals (NASDAQ:ACXP)

HC Wainwright restated their buy rating on shares of Acurx Pharmaceuticals (NASDAQ:ACXP) in a research note issued to investors on Friday,Benzinga reports. They currently have a $12.00 price target on the stock.

Acurx Pharmaceuticals Stock Up 7.6 %

Shares of NASDAQ ACXP opened at $0.81 on Friday. The firm has a 50-day simple moving average of $1.15 and a 200-day simple moving average of $1.76. The stock has a market capitalization of $13.65 million, a price-to-earnings ratio of -0.74 and a beta of -1.71. Acurx Pharmaceuticals has a 52 week low of $0.68 and a 52 week high of $5.28.

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 last year, the company posted ($0.24) earnings per share. As a group, equities research analysts expect that Acurx Pharmaceuticals will post -0.89 EPS for the current year.

Insiders Place Their Bets

In other news, CEO David P. Luci bought 49,261 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were bought 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. This trade represents a 4.70 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 29.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Acurx Pharmaceuticals

A hedge fund recently raised its stake in Acurx Pharmaceuticals stock. Prospect Financial Services LLC increased its holdings in Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) by 6.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 295,075 shares of the company’s stock after acquiring an additional 16,975 shares during the period. Prospect Financial Services LLC owned approximately 1.86% of Acurx Pharmaceuticals worth $561,000 at the end of the most recent quarter. Institutional investors own 11.53% of the company’s stock.

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.