H.C. Wainwright has begun coverage of Acurx Pharmaceuticals (ACXP, Financial) with a recommendation to buy, setting a price target of $8. Acurx is a pharmaceutical company in the clinical stage, focusing on developing innovative antibiotics aimed at treating bacterial infections. The firm highlights the potential of Acurx as being underappreciated by investors, noting that the company is at the forefront of a pivotal shift in the field of anti-infective treatments.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 3 analysts, the average target price for Acurx Pharmaceuticals Inc (ACXP, Financial) is $4.93 with a high estimate of $8.29 and a low estimate of $1.50. The average target implies an upside of 1,241.13% from the current price of $0.37. More detailed estimate data can be found on the Acurx Pharmaceuticals Inc (ACXP) Forecast page.
Based on the consensus recommendation from 3 brokerage firms, Acurx Pharmaceuticals Inc's (ACXP, Financial) average brokerage recommendation is currently 2.0, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
ACXP Key Business Developments
Release Date: March 18, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
- Acurx Pharmaceuticals Inc (ACXP, Financial) is advancing its lead antibiotic candidate, Ibezapolstat, into international phase 3 clinical trials for C. difficile infection.
- The company reported a high clinical cure rate of 96% in phase 2 trials, with 100% of Ibezapolstat-treated patients remaining cured one month after treatment.
- Acurx Pharmaceuticals Inc (ACXP) received positive regulatory guidance from both the FDA and the European Medicines Agency, aligning their phase 3 clinical trial program.
- The company closed a $2.5 million registered direct offering and a $1.1 million private placement, strengthening its financial position.
- A new patent was granted by the Japanese patent office for DNA gyrase inhibitors, extending intellectual property protection until December 2039.
Negative Points
- Acurx Pharmaceuticals Inc (ACXP) ended the year with a reduced cash position of $3.7 million, down from $7.5 million the previous year.
- The company reported a net loss of $2.8 million for the fourth quarter of 2024, indicating ongoing financial challenges.
- Research and development expenses decreased, primarily due to reduced consulting costs, but manufacturing costs increased.
- General and administrative expenses increased slightly for the year, driven by higher professional and legal fees.
- The company faces challenges in securing partnerships and funding, with market turmoil impacting potential collaborations.
