Acurx Pharmaceuticals (NASDAQ:ACXP) Given “Buy” Rating at HC Wainwright

HC Wainwright reissued their buy rating on shares of Acurx Pharmaceuticals (NASDAQ:ACXP) in a report published on Friday,Benzinga reports. HC Wainwright currently has a $12.00 price target on the stock.

Acurx Pharmaceuticals Price Performance

Shares of NASDAQ ACXP opened at $0.81 on Friday. The firm’s 50 day simple moving average is $1.15 and its 200-day simple moving average is $1.76. Acurx Pharmaceuticals has a 12 month low of $0.68 and a 12 month high of $5.28. 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 (NASDAQ:ACXP) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.17) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.06. During the same quarter in the previous year, the firm posted ($0.24) earnings per share. Analysts anticipate that Acurx Pharmaceuticals will post -0.89 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO David P. Luci acquired 49,261 shares of Acurx Pharmaceuticals stock in a transaction on Monday, January 6th. The stock was bought at an average cost of $1.01 per share, for a total transaction of $49,753.61. Following the completion of the transaction, the chief executive officer now owns 1,097,458 shares of the company’s stock, valued at approximately $1,108,432.58. The trade was a 4.70 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 29.60% of the stock is currently owned by company insiders.

Institutional Trading of Acurx Pharmaceuticals

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

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.