Maxim Group analyst Jason McCarthy has maintained their bullish stance on ACXP stock, giving a Buy rating today.
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Jason McCarthy has given his Buy rating due to a combination of factors, primarily centered around the potential of Acurx Pharmaceuticals’ lead candidate, ibezapolstat, in treating C. difficile infections. Despite the financial challenges and the need for substantial capital to initiate Phase 3 trials, the positive Phase 2a and 2b data indicate a strong efficacy profile for ibezapolstat, which maintains a high clinical cure rate and has favorable impacts on the gut microbiome.
McCarthy acknowledges the current market headwinds and the dilution from recent financings, which have led to a lower price target. However, he remains optimistic about Acurx’s ability to secure funding through non-dilutive sources such as partnerships and grants. The company’s alignment with FDA and EU regulators for Phase 3 trials further supports the Buy rating, as it suggests a clear path forward for the development of ibezapolstat, reinforcing its potential market opportunity.
McCarthy covers the Healthcare sector, focusing on stocks such as Medicus Pharma Ltd, SELLAS Life Sciences Group, and Mesoblast. According to TipRanks, McCarthy has an average return of -18.6% and a 25.86% success rate on recommended stocks.
In another report released today, H.C. Wainwright also maintained a Buy rating on the stock with a $12.00 price target.