HC Wainwright assumed coverage on shares of Acurx Pharmaceuticals (NASDAQ:ACXP – Get Rating) in a research note published on Monday morning, The Fly reports. The firm issued a buy rating and a $14.00 target price on the stock. HC Wainwright also issued estimates for Acurx Pharmaceuticals' Q4 2022 earnings at ($0.25) EPS, FY2022 earnings at ($1.07) EPS, Q1 2023 earnings at ($0.27) EPS, Q2 2023 earnings at ($0.24) EPS, Q3 2023 earnings at ($0.22) EPS, Q4 2023 earnings at ($0.27) EPS, FY2023 earnings at ($0.99) EPS, FY2024 earnings at ($1.19) EPS, FY2025 earnings at ($1.42) EPS and FY2026 earnings at ($0.95) EPS.

Separately, Alliance Global Partners assumed coverage on Acurx Pharmaceuticals in a report on Thursday, October 20th. They issued a buy rating on the stock.

Acurx Pharmaceuticals Trading Up 1.3 %

Shares of NASDAQ ACXP opened at $3.85 on Monday. The firm has a market cap of $44.63 million, a P/E ratio of -3.61 and a beta of -0.73. Acurx Pharmaceuticals has a 1-year low of $2.33 and a 1-year high of $4.89. The business's 50 day moving average is $3.20 and its 200-day moving average is $3.49.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Castle Wealth Management LLC bought a new stake in Acurx Pharmaceuticals in the 2nd quarter valued at about $49,000. BlackRock Inc. boosted its stake in shares of Acurx Pharmaceuticals by 149.8% in the 1st quarter. BlackRock Inc. now owns 16,699 shares of the company's stock worth $55,000 after buying an additional 10,014 shares during the last quarter. Armistice Capital LLC purchased a new position in shares of Acurx Pharmaceuticals in the 3rd quarter worth approximately $3,198,000. Finally, Semmax Financial Advisors Inc. lifted its stake in Acurx Pharmaceuticals by 365.5% in the second quarter. Semmax Financial Advisors Inc. now owns 5,879 shares of the company's stock valued at $28,000 after purchasing an additional 4,616 shares during the last quarter. 3.03% of the stock is owned by institutional investors.

Acurx Pharmaceuticals Company Profile

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Acurx Pharmaceuticals, Inc, a clinical stage biopharmaceutical company, develops antibiotics to treat bacterial infections. Its lead antibiotic candidate is ibezapolstat, a novel mechanism of action that targets the polymerase IIIC enzyme that has completed Phase IIa clinical trial to treat patients with clostridium difficile infections.

Further Reading

• Get a free copy of the StockNews.com research report on Acurx Pharmaceuticals (ACXP)
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