Acurx Pharma Q3 net loss narrows to $2 mln
Acurx Pharma reported a Q3 net loss of $2 million, with an EPS of -$1.23. R&D expenses fell to $0.4 million due to reduced manufacturing and consulting costs. The company completed a 1-for-20 reverse stock split to regain Nasdaq compliance. Analysts maintain a "buy" rating on the stock, with a median 12-month price target of $30.50, representing an 81.7% upside from its last closing price of $5.58.
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Overview
- Acurx Q3 net loss narrows to $2 mln, with EPS at -$1.23
- R&D expenses decreased to $0.4 mln due to lower manufacturing and consulting costs
- Company completed 1-for-20 reverse stock split, regaining Nasdaq compliance
Result Drivers
- REVERSE STOCK SPLIT - Co completed a 1-for-20 reverse stock split, regaining Nasdaq compliance
- R&D EXPENSES - R&D expenses decreased due to lower manufacturing and consulting costs
Key Details
Metric Beat/Mis Actual Consensu
s s
Estimate
Q3 EPS -$1.23
Q3 Net -$2 mln
Income
Analyst Coverage
- The current average analyst rating on the shares is “buy” and the breakdown of recommendations is 3 “strong buy” or “buy”, no “hold” and no “sell” or “strong sell”
- The average consensus recommendation for the biotechnology & medical research peer group is “buy”
- Wall Street’s median 12-month price target for Acurx Pharmaceuticals Inc is $30.50, about 81.7% above its November 11 closing price of $5.58
Press Release: For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact . (This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)
