Acurx Pharmaceuticals (NASDAQ:ACXP) Stock Price Down 3.6% – What’s Next?

Acurx Pharmaceuticals, Inc. (NASDAQ:ACXP)’s stock price dropped 3.6% on Monday . The company traded as low as $1.61 and last traded at $1.62. Approximately 49,568 shares traded hands during mid-day trading, a decline of 54% from the average daily volume of 107,078 shares. The stock had previously closed at $1.68.

Analyst Upgrades and Downgrades

ACXP has been the topic of a number of research reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Acurx Pharmaceuticals in a research note on Monday, April 20th. Wall Street Zen upgraded shares of Acurx Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $31.00.

Acurx Pharmaceuticals Price Performance

The stock’s fifty day moving average is $2.36 and its 200-day moving average is $2.81. The stock has a market capitalization of $6.97 million, a PE ratio of -0.40 and a beta of -2.09.

Acurx Pharmaceuticals (NASDAQ:ACXP) last released its quarterly earnings results on Tuesday, May 12th. The company reported ($0.62) earnings per share for the quarter, missing the consensus estimate of ($0.59) by ($0.03). On average, analysts forecast that Acurx Pharmaceuticals, Inc. will post -1.94 EPS for the current year.

Hedge Funds Weigh In On Acurx Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the business. Jane Street Group LLC purchased a new position in shares of Acurx Pharmaceuticals in the fourth quarter worth about $27,000. Geode Capital Management LLC acquired a new stake in Acurx Pharmaceuticals during the fourth quarter worth about $31,000. Millennium Management LLC acquired a new stake in Acurx Pharmaceuticals during the fourth quarter worth about $103,000. Finally, Armistice Capital LLC acquired a new stake in Acurx Pharmaceuticals during the second quarter worth about $551,000. 11.53% of the stock is owned by hedge funds and other institutional investors.

Acurx Pharmaceuticals Company Profile

Acurx Pharmaceuticals, Inc, headquartered in King of Prussia, Pennsylvania, is a clinical‐stage biopharmaceutical company focused on the discovery and development of novel anti‐infective therapies. The company’s research platform leverages insights into bacterial virulence regulation and quorum sensing pathways to design small-molecule candidates aimed at reducing pathogen toxicity and biofilm formation. By targeting key mechanisms of infection rather than bacterial viability alone, Acurx seeks to offer differentiated treatment options that may help address the growing challenge of antibiotic resistance.

Acurx’s lead product candidates are being developed to treat acute bacterial skin and skin structure infections (ABSSSI), including cases caused by drug-resistant strains such as methicillin-resistant Staphylococcus aureus (MRSA).