HC Wainwright initiated coverage on shares of Acurx Pharmaceuticals (NASDAQ:ACXP – Get Rating) in a report released on Monday morning, The Fly reports. The firm issued a buy rating and a $14.00 price objective on the stock.
Separately, Alliance Global Partners started coverage on shares of Acurx Pharmaceuticals in a report on Thursday, October 20th. They issued a buy rating on the stock.
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Acurx Pharmaceuticals Stock Down 1.6 %
Acurx Pharmaceuticals stock opened at $3.77 on Monday. Acurx Pharmaceuticals has a 52 week low of $2.33 and a 52 week high of $4.89. The firm's 50-day simple moving average is $3.19 and its 200 day simple moving average is $3.48. The firm has a market capitalization of $43.71 million, a PE ratio of -3.52 and a beta of -0.73.
Acurx Pharmaceuticals (NASDAQ:ACXP – Get Rating) last released its earnings results on Monday, November 14th. The company reported ($0.32) earnings per share (EPS) for the quarter.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently modified their holdings of the stock. Semmax Financial Advisors Inc. increased its position in Acurx Pharmaceuticals by 365.5% during the 2nd quarter. Semmax Financial Advisors Inc. now owns 5,879 shares of the company's stock worth $28,000 after purchasing an additional 4,616 shares in the last quarter. Castle Wealth Management LLC acquired a new stake in Acurx Pharmaceuticals in the second quarter valued at approximately $49,000. BlackRock Inc. grew its position in Acurx Pharmaceuticals by 149.8% in the first quarter. BlackRock Inc. now owns 16,699 shares of the company's stock valued at $55,000 after acquiring an additional 10,014 shares in the last quarter. Finally, Armistice Capital LLC acquired a new stake in Acurx Pharmaceuticals in the third quarter valued at approximately $3,198,000. Institutional investors and hedge funds own 3.03% of the company's stock.
About Acurx Pharmaceuticals
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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.
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