Acurx Pharmaceuticals (NASDAQ:ACXP) Posts Earnings Results, Beats Estimates By $0.02 EPS

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

Acurx Pharmaceuticals Price Performance

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

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In related news, CEO David P. Luci acquired 49,261 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was bought at an average cost of $1.01 per share, with a total value of $49,753.61. Following the acquisition, the chief executive officer now directly owns 1,097,458 shares in the company, valued at approximately $1,108,432.58. The trade was a 4.70 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 29.60% of the stock is 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.