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Investing.com - H.C. Wainwright raised its price target on Acurx Pharmaceuticals Inc. (NASDAQ:ACXP) to $31.00 from $8.00 on Wednesday, while maintaining a Buy rating on the stock. The micro-cap biotech company, currently valued at $6.8 million, has seen its shares decline 88% over the past year. According to InvestingPro analysis, the stock appears undervalued relative to its Fair Value.
The price target adjustment follows Acurx’s second-quarter 2025 financial results, which showed earnings per share of ($1.89), compared to the consensus estimate of ($2.10). The company reported $6.1 million in cash at the end of the quarter, maintaining a healthy current ratio of 1.93x. InvestingPro data shows the company holds more cash than debt on its balance sheet.
H.C. Wainwright noted that the EPS discrepancy is attributable to a reverse split that became effective on August 4, which was a 1-for-20 reverse stock split that prompted the price target adjustment.
The research firm highlighted progress with ibezapolstat (IBZ), Acurx’s lead asset, which is preparing to enter Phase 3 evaluation. The first patient could be dosed in this trial as early as the fourth quarter of 2025, according to H.C. Wainwright.
Regulatory agencies in the U.S. and E.U. have provided positive feedback to Acurx regarding manufacturing, non-clinical, and clinical aspects of the Phase 3 program and trial design, positioning IBZ to begin late-stage clinical evaluation.
In other recent news, Acurx Pharmaceuticals LLC announced its financial results for the second quarter of 2025, reporting a significant earnings miss. The company’s earnings per share (EPS) showed a loss of $1.89, which was well below the forecasted loss of $0.18. This deviation from expectations represented a negative surprise of 950%. The earnings announcement followed a pre-market decline in the company’s stock price, although specific stock price movements are not detailed here. These recent developments highlight the challenges faced by Acurx Pharmaceuticals in meeting analyst expectations. Investors and analysts alike are closely monitoring the company’s performance in light of this substantial earnings miss.
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