HC Wainwright Reaffirms “Buy” Rating for Acurx Pharmaceuticals (NASDAQ:ACXP)

Acurx Pharmaceuticals (NASDAQ:ACXP – Get Rating)‘s stock had its “buy” rating restated by analysts at HC Wainwright in a research note issued to investors on Friday, Benzinga reports. They presently have a $14.00 target price on the stock. HC Wainwright’s price objective suggests a potential upside of 345.86% from the stock’s previous close. HC Wainwright also issued estimates for Acurx Pharmaceuticals’ FY2027 earnings at ($0.64) EPS.

Acurx Pharmaceuticals Stock Performance

Shares of ACXP stock opened at $3.14 on Friday. The business has a fifty day moving average of $3.66 and a 200 day moving average of $3.51. Acurx Pharmaceuticals has a 1 year low of $2.33 and a 1 year high of $4.85.

Institutional Investors Weigh In On Acurx Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Armistice Capital LLC acquired a new stake in Acurx Pharmaceuticals during the 3rd quarter worth about $3,198,000. BlackRock Inc. grew its position in Acurx Pharmaceuticals by 149.8% during the 1st quarter. BlackRock Inc. now owns 16,699 shares of the company’s stock worth $55,000 after purchasing an additional 10,014 shares during the period. Finally, Semmax Financial Advisors Inc. grew its position in Acurx Pharmaceuticals by 365.5% during the 2nd quarter. Semmax Financial Advisors Inc. now owns 5,879 shares of the company’s stock worth $28,000 after purchasing an additional 4,616 shares during the period. 13.13% of the stock is owned by institutional investors and hedge funds.

About Acurx Pharmaceuticals

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Acurx Pharmaceuticals, Inc, a clinical stage biopharmaceutical company, develops antibiotics to treat bacterial infections. Its lead antibiotic candidate is ibezapolstat, a novel mechanism of action that targets the polymerase IIIC enzyme that has completed Phase IIa clinical trial to treat patients with clostridium difficile infections.