Acurx Pharmaceuticals (NASDAQ:ACXP) Stock Price Expected to Rise, HC Wainwright Analyst Says

Acurx Pharmaceuticals (NASDAQ:ACXP) had its price target raised by stock analysts at HC Wainwright to $31.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock.

Separately, Wall Street Zen upgraded shares of Acurx Pharmaceuticals to a “sell” rating in a research note on Saturday.

Acurx Pharmaceuticals Stock Performance

Shares of ACXP stock traded up $0.29 during trading hours on Tuesday, hitting $4.72. 82,421 shares of the company were exchanged, compared to its average volume of 141,641. Acurx Pharmaceuticals has a one year low of $3.80 and a one year high of $47.80. The business’s 50-day simple moving average is $8.53 and its two-hundred day simple moving average is $9.46. The stock has a market capitalization of $7.27 million, a price-to-earnings ratio of -0.44 and a beta of -1.27.

Acurx Pharmaceuticals (NASDAQ:ACXP) last released 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 anticipate that Acurx Pharmaceuticals will post -0.89 EPS for the current fiscal year.

Hedge Funds Weigh In On Acurx Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Capital Wealth Advisors acquired a new stake in shares of Acurx Pharmaceuticals during the 1st quarter valued at $26,000. Prospect Financial Services LLC raised its holdings in shares of Acurx Pharmaceuticals by 11.4% during the 1st quarter. Prospect Financial Services LLC now owns 366,576 shares of the company’s stock valued at $143,000 after purchasing an additional 37,500 shares in the last quarter. Finally, O Brien Greene & Co. Inc bought a new position in shares of Acurx Pharmaceuticals during the 2nd quarter valued at $31,000. Institutional investors and hedge funds 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.