Wall Street Zen Upgrades Acurx Pharmaceuticals (NASDAQ:ACXP) to “Hold”

Acurx Pharmaceuticals (NASDAQ:ACXP) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

A number of other equities analysts also recently commented on ACXP. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Acurx Pharmaceuticals in a report on Wednesday, October 8th. HC Wainwright reaffirmed a “buy” rating and set a $31.00 price objective on shares of Acurx Pharmaceuticals in a report on Tuesday, September 30th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Acurx Pharmaceuticals presently has a consensus rating of “Hold” and an average target price of $31.00.

Acurx Pharmaceuticals Price Performance

NASDAQ ACXP opened at $7.48 on Friday. The firm has a market capitalization of $11.82 million, a price-to-earnings ratio of -0.70 and a beta of -1.29. The company’s fifty day moving average is $4.69 and its two-hundred day moving average is $7.02. Acurx Pharmaceuticals has a 52-week low of $3.80 and a 52-week high of $42.80.

Acurx Pharmaceuticals (NASDAQ:ACXP) last posted its quarterly earnings results on Monday, August 11th. The company reported ($1.89) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.00) by $0.11. As a group, sell-side analysts expect that Acurx Pharmaceuticals will post -0.89 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Acurx Pharmaceuticals

A hedge fund recently bought a new stake 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 its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,078,540 shares of the company’s stock, valued at approximately $551,000. Armistice Capital LLC owned about 70.13% of Acurx Pharmaceuticals as of its most recent SEC filing. Institutional investors and hedge funds own 11.53% of the company’s stock.

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.