Acurx Pharmaceuticals (NASDAQ:ACXP) Issues Quarterly Earnings Results, Beats Expectations By $0.02 EPS

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

Acurx Pharmaceuticals Stock Down 14.2 %

ACXP opened at $0.41 on Wednesday. The firm’s fifty day simple moving average is $0.71 and its two-hundred day simple moving average is $1.27. The company has a market cap of $7.96 million, a price-to-earnings ratio of -0.37 and a beta of -1.71. Acurx Pharmaceuticals has a 52-week low of $0.40 and a 52-week high of $3.33.

Insider Transactions at Acurx Pharmaceuticals

In other Acurx Pharmaceuticals news, CEO David P. Luci purchased 49,261 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were purchased at an average cost of $1.01 per share, with a total value of $49,753.61. Following the completion of the purchase, the chief executive officer now owns 1,097,458 shares in the company, valued at approximately $1,108,432.58. This represents a 4.70 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Insiders own 29.60% of the company’s stock.

Analyst Ratings Changes

Separately, HC Wainwright reaffirmed a “buy” rating and set a $12.00 price objective on shares of Acurx Pharmaceuticals in a 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.