Acurx Pharmaceuticals (ACXP – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Jason McCarthy from Maxim Group maintained a Buy rating on the stock and has a $1.50 price target.
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Jason McCarthy has given his Buy rating due to a combination of factors related to Acurx Pharmaceuticals’ promising developments in the field of antibiotics. The company is focused on creating novel treatments for challenging infections, specifically targeting the DNA polymerase IIIC enzyme in Gram-positive bacteria. This innovative approach is highlighted by the potential of their lead candidate, ibezapolstat, which has shown a differentiated microbiome-restorative profile and promising preclinical data indicating its ability to reduce recurrence of C. difficile infections.
Additionally, Acurx Pharmaceuticals has strengthened its financial position with a recently secured $12 million equity line of credit, which extends their operational runway as they prepare for Phase 3 trials. The positive regulatory guidance from both the FDA and EU regulators further supports the potential success of ibezapolstat in upcoming trials. With a clinical cure rate of 94% in Phase 2b trials and no recurrent infections observed in long-term follow-ups, the company is well-positioned to address the unmet need in C. difficile treatment, justifying the Buy rating.
In another report released today, Alliance Global Partners also reiterated a Buy rating on the stock with a $5.00 price target.
ACXP’s price has also changed dramatically for the past six months – from $1.820 to $0.379, which is a -79.18% drop .