Acurx Pharmaceuticals (NASDAQ:ACXP) Announces Quarterly Earnings Results

Acurx Pharmaceuticals (NASDAQ:ACXP) posted its quarterly earnings results on Monday. The company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.02, Zacks reports.

Acurx Pharmaceuticals Price Performance

ACXP stock opened at $0.41 on Wednesday. Acurx Pharmaceuticals has a 12 month low of $0.40 and a 12 month high of $3.33. The company’s 50 day simple moving average is $0.71 and its 200-day simple moving average is $1.27. The firm has a market capitalization of $8.06 million, a PE ratio of -0.38 and a beta of -1.71.

Insider Buying and Selling

In related news, CEO David P. Luci purchased 49,261 shares of the business’s stock in a transaction on Monday, January 6th. The shares were bought at an average price of $1.01 per share, with a total value of $49,753.61. Following the completion of the purchase, the chief executive officer now directly owns 1,097,458 shares in the company, valued at approximately $1,108,432.58. This trade represents a 4.70 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 29.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright restated a “buy” rating and set a $12.00 target price on shares of Acurx Pharmaceuticals in a research report on Friday, January 10th.

About Acurx Pharmaceuticals

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.