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

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

Other equities research analysts have also recently issued reports about the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Acurx Pharmaceuticals in a research note on Wednesday, October 8th. HC Wainwright reaffirmed a “buy” rating and set a $31.00 price objective 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 issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $31.00.

Get Our Latest Report on Acurx Pharmaceuticals

Acurx Pharmaceuticals Price Performance

ACXP opened at $6.80 on Friday. Acurx Pharmaceuticals has a fifty-two week low of $3.80 and a fifty-two week high of $41.00. The company has a market cap of $10.74 million, a price-to-earnings ratio of -0.64 and a beta of -1.29. The firm has a 50 day simple moving average of $4.90 and a 200 day simple moving average of $7.00.

Acurx Pharmaceuticals (NASDAQ:ACXPGet Free Report) last issued its earnings results on Monday, August 11th. The company reported ($1.89) 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 EPS for the current year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Acurx Pharmaceuticals stock. Armistice Capital LLC bought a new stake in Acurx Pharmaceuticals, Inc. (NASDAQ:ACXPFree Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,078,540 shares of the company’s stock, valued at approximately $551,000. Armistice Capital LLC owned 70.13% of Acurx Pharmaceuticals at the end of the most recent quarter. 11.53% of the stock is owned by institutional investors.

About Acurx Pharmaceuticals

(Get Free Report)

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.

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