Acurx Pharmaceuticals (NASDAQ:ACXP) Stock Rating Reaffirmed by HC Wainwright

Acurx Pharmaceuticals (NASDAQ:ACXP – Get Rating)‘s stock had its “buy” rating restated by HC Wainwright in a research report issued on Friday, Benzinga reports. They currently have a $14.00 target price on the stock. HC Wainwright’s price objective indicates a potential upside of 345.86% from the stock’s previous close. HC Wainwright also issued estimates for Acurx Pharmaceuticals’ FY2027 earnings at ($0.64) EPS.

Acurx Pharmaceuticals Stock Performance

Shares of Acurx Pharmaceuticals stock opened at $3.14 on Friday. The stock’s 50-day simple moving average is $3.66 and its 200-day simple moving average is $3.51. Acurx Pharmaceuticals has a 52 week low of $2.33 and a 52 week high of $4.85.

Institutional Investors Weigh In On Acurx Pharmaceuticals

Hedge funds have recently made changes to their positions in the company. Armistice Capital LLC purchased a new stake in shares of Acurx Pharmaceuticals in the third quarter worth about $3,198,000. BlackRock Inc. lifted its position in shares of Acurx Pharmaceuticals by 149.8% in the first quarter. BlackRock Inc. now owns 16,699 shares of the company’s stock worth $55,000 after buying an additional 10,014 shares in the last quarter. Finally, Semmax Financial Advisors Inc. raised its position in Acurx Pharmaceuticals by 365.5% during 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 period. 13.13% of the stock is currently owned by hedge funds and other institutional investors.

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.