Acurx Pharmaceuticals (ACXP) stock rocketed higher on Tuesday after the clinical-stage biopharmaceutical company announced results from its Phase 2b study of ibezapolstat. This is a drug in development to treat patients with C. difficile infection (CDI).
Don’t Miss TipRanks’ Half-Year Sale
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
The results were published in Lancet Microbe, bringing extra attention to Acurx Pharmaceuticals’ study. Additionally, the positive results from this study have the company ready to move ibezapolstat on to a Phase 3 clinical trial.
Acurx Pharmaceuticals Executive Chairman Bob DeLuccia said, “Data from our Phase 3 pivotal trials, if successful, will form the foundation for our continually evolving and attractive value proposition including in-market competitive advantage compared to vancomycin and fidaxomicin.”
Acurx Pharmaceuticals Stock Movement Today
ACXP investors were pleased with today’s news, as shares of the stock rocketed 251.68% higher in pre-market trading. That came with heavy trading, as over 116 million shares changed hands, compared to a three-month daily average of 219,370 units.
Is Acurx Pharmaceuticals Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts’ consensus rating for Acurx Pharmaceuticals is Strong Buy, based on three Buy ratings over the past three months. With that comes an average ACXP stock price target of $4.83, representing a potential 1,274.78% upside for the shares.
