Acurx Pharmaceuticals Inc Down 1.84% To $2.67 After Earnings Miss

Monday, March 18, 2024 - Acurx Pharmaceuticals Inc (ACXP) reported downside earnings and in line revenues.

Acurx Pharmaceuticals Inc's earnings came in at an EPS loss of $0.37 per share, 42% lower than estimates for an EPS loss of $0.26 per share. The firm's loss per share expanded by 32% since reporting a loss of $0.28 per share a year ago.

Acurx Pharmaceuticals Inc Q4 2023 revenue came in at $0.00. The company achieved 0% growth year-over-year compared to the firm's revenue of $0.00 from the year-ago quarter. The lower earnings growth relative to revenue signals Acurx Pharmaceuticals Inc has not been able to improve its profit margin.

The stock is down 1.84% to $2.67 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

Wall Street Analysts had an average rating of Strong Buy on the stock prior to the report.

Trading in the five days leading up to the report earned Acurx Pharmaceuticals Inc a Bearish Sentiment Rank from InvestorsObserver.

Acurx Pharmaceuticals Inc has performed poorly during the past few months, garnering a low Long-Term Technical Rank by InvestorsObserver of 17, putting Acurx Pharmaceuticals Inc in the bottom 25% of stocks. The firm set a 52-week high on October 12, 2023 at $8.82 and set a 52-week low on October 2, 2023 at $1.17.

Acurx Pharmaceuticals Inc is a clinical stage biopharmaceutical company developing a new class of antibiotics for infections caused by bacteria listed as priority pathogens by the World Health Organization, Centers for Disease Control and Prevention and Food and Drug Administration.