Acurx Pharmaceuticals (NASDAQ:ACXP) Upgraded to Hold at Wall Street Zen

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

Separately, HC Wainwright lifted their price objective on shares of Acurx Pharmaceuticals to $31.00 and gave the stock a “buy” rating in a report on Tuesday, August 12th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $31.00.

Acurx Pharmaceuticals Price Performance

Shares of Acurx Pharmaceuticals stock opened at $4.10 on Friday. The business has a 50-day simple moving average of $5.67 and a 200 day simple moving average of $7.46. Acurx Pharmaceuticals has a one year low of $3.80 and a one year high of $44.00. The firm has a market capitalization of $6.48 million, a price-to-earnings ratio of -0.38 and a beta of -1.29.

Acurx Pharmaceuticals (NASDAQ:ACXP) last issued its earnings results on Monday, August 11th. The company reported ($1.89) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.00) by $0.11. On average, sell-side analysts expect that Acurx Pharmaceuticals will post -0.89 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Prospect Financial Services LLC lifted its position in Acurx Pharmaceuticals by 11.4% during the first 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 during the last quarter. Vanguard Capital Wealth Advisors purchased a new position in Acurx Pharmaceuticals in the first quarter worth $26,000. O Brien Greene & Co. Inc bought a new position in Acurx Pharmaceuticals in the second quarter valued at $31,000. Finally, Armistice Capital LLC bought a new position in Acurx Pharmaceuticals in the second quarter valued at $551,000. 11.53% of the stock is currently 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.