Brokers Set Expectations for ACXP FY2029 Earnings

Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) – HC Wainwright issued their FY2029 earnings per share (EPS) estimates for Acurx Pharmaceuticals in a report released on Wednesday, March 19th. HC Wainwright analyst E. Arce forecasts that the company will earn ($0.57) per share for the year. HC Wainwright currently has a “Buy” rating and a $12.00 target price on the stock. The consensus estimate for Acurx Pharmaceuticals’ current full-year earnings is ($0.89) per share.

Acurx Pharmaceuticals Stock Performance

NASDAQ:ACXP opened at $0.42 on Thursday. The stock has a fifty day moving average price of $0.70 and a two-hundred day moving average price of $1.26. The stock has a market capitalization of $8.21 million, a price-to-earnings ratio of -0.38 and a beta of -1.71. Acurx Pharmaceuticals has a 1 year low of $0.40 and a 1 year high of $3.33.

Acurx Pharmaceuticals (NASDAQ:ACXP) last released its quarterly earnings data on Monday, March 17th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.02.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Acurx Pharmaceuticals stock. Geode Capital Management LLC grew its position in Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP) by 12.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 146,500 shares of the company’s stock after buying an additional 16,485 shares during the quarter. Geode Capital Management LLC owned 0.90% of Acurx Pharmaceuticals worth $278,000 at the end of the most recent quarter. 11.53% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Acurx Pharmaceuticals news, CEO David P. Luci acquired 49,261 shares of the business’s stock in a transaction on Monday, January 6th. The stock was purchased at an average price of $1.01 per share, for a total transaction of $49,753.61. Following the completion of the transaction, the chief executive officer now owns 1,097,458 shares of the company’s stock, valued at $1,108,432.58. The trade was a 4.70 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 29.60% of the stock is currently owned by company insiders.

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.