Acurx Pharmaceuticals (NASDAQ:ACXP) Cut to Sell at Wall Street Zen

Wall Street Zen lowered shares of Acurx Pharmaceuticals (NASDAQ:ACXP) from a hold rating to a sell rating in a research report released on Sunday morning.

Other analysts also recently issued reports about the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Acurx Pharmaceuticals in a research report on Wednesday, October 8th. HC Wainwright reaffirmed a “buy” rating and issued a $31.00 price target on shares of Acurx Pharmaceuticals in a research note on Tuesday, September 30th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $31.00.

Acurx Pharmaceuticals Price Performance

NASDAQ:ACXP opened at $7.01 on Friday. The firm has a market capitalization of $11.08 million, a price-to-earnings ratio of -0.66 and a beta of -1.29. Acurx Pharmaceuticals has a 1 year low of $3.80 and a 1 year high of $39.20. The business has a 50 day simple moving average of $5.01 and a 200-day simple moving average of $7.01.

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

Institutional Trading of Acurx Pharmaceuticals

A hedge fund recently bought a new stake in Acurx Pharmaceuticals stock. Armistice Capital LLC bought a new position in shares of Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 1,078,540 shares of the company’s stock, valued at approximately $551,000. Armistice Capital LLC owned approximately 70.13% of Acurx Pharmaceuticals at the end of the most recent reporting period. 11.53% of the stock is owned by institutional investors.

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.