Acurx Pharmaceuticals (NASDAQ:ACXP) Stock Price Down 9.3% – Time to Sell?

by · The Cerbat Gem

Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP – Get Free Report) shares were down 9.3% on Monday . The company traded as low as $3.67 and last traded at $3.69. Approximately 51,114 shares changed hands during mid-day trading, a decline of 34% from the average daily volume of 77,019 shares. The stock had previously closed at $4.07.

Wall Street Analysts Forecast Growth

ACXP has been the subject of several research reports. HC Wainwright reaffirmed a “buy” rating and set a $31.00 price target on shares of Acurx Pharmaceuticals in a report on Tuesday, September 30th. Wall Street Zen raised shares of Acurx Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, November 22nd. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Acurx Pharmaceuticals in a research report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Acurx Pharmaceuticals currently has a consensus rating of “Hold” and a consensus target price of $31.00.

View Our Latest Analysis on ACXP

Acurx Pharmaceuticals Stock Down 2.5%

The business’s 50 day moving average is $5.03 and its two-hundred day moving average is $6.14. The firm has a market cap of $7.32 million, a P/E ratio of -0.41 and a beta of -1.25.

Acurx Pharmaceuticals (NASDAQ:ACXP – Get Free Report) last announced its quarterly earnings data on Wednesday, November 12th. The company reported ($1.23) EPS for the quarter, beating analysts’ consensus estimates of ($1.61) by $0.38. Equities research analysts anticipate that Acurx Pharmaceuticals, Inc. will post -0.89 EPS for the current year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Acurx Pharmaceuticals stock. Armistice Capital LLC acquired a new stake in Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP – Free Report) in the second quarter, according to its most recent filing with the SEC. The fund acquired 1,078,540 shares of the company’s stock, valued at approximately $551,000. Armistice Capital LLC owned approximately 70.13% of Acurx Pharmaceuticals at the end of the most recent quarter. 11.53% of the stock is currently owned by hedge funds and other institutional investors.

Acurx Pharmaceuticals Company Profile

(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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