Wall Street brokerages expect that AcelRx Pharmaceuticals Inc (NASDAQ:ACRX) will post $1.10 million in sales for the current quarter, according to Zacks. Two analysts have made estimates for AcelRx Pharmaceuticals’ earnings. The lowest sales estimate is $800,000.00 and the highest is $1.40 million. AcelRx Pharmaceuticals reported sales of $1.49 million during the same quarter last year, which indicates a negative year over year growth rate of 26.2%. The firm is scheduled to issue its next quarterly earnings results on Thursday, November 8th.
According to Zacks, analysts expect that AcelRx Pharmaceuticals will report full year sales of $4.83 million for the current financial year, with estimates ranging from $1.00 million to $11.00 million. For the next fiscal year, analysts expect that the firm will report sales of $19.90 million per share, with estimates ranging from $11.00 million to $30.50 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover AcelRx Pharmaceuticals.
AcelRx Pharmaceuticals (NASDAQ:ACRX) last issued its quarterly earnings data on Thursday, August 2nd. The specialty pharmaceutical company reported ($0.20) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.19) by ($0.01). The business had revenue of $0.82 million for the quarter, compared to analysts’ expectations of $0.93 million.
ACRX has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded shares of AcelRx Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, June 26th. Oppenheimer restated a “hold” rating on shares of AcelRx Pharmaceuticals in a research report on Friday, August 3rd. Cantor Fitzgerald restated a “buy” rating and issued a $6.00 price target on shares of AcelRx Pharmaceuticals in a research report on Thursday, August 2nd. ValuEngine upgraded shares of AcelRx Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Wednesday, May 2nd. Finally, LADENBURG THALM/SH SH initiated coverage on shares of AcelRx Pharmaceuticals in a research report on Thursday, August 16th. They issued a “buy” rating and a $7.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $5.21.
In related news, insider Pamela P. Palmer bought 37,000 shares of the company’s stock in a transaction that occurred on Monday, August 6th. The shares were bought at an average price of $2.75 per share, for a total transaction of $101,750.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Vincent J. Angotti bought 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 7th. The shares were bought at an average price of $2.90 per share, for a total transaction of $29,000.00. The disclosure for this purchase can be found here. Insiders have purchased a total of 67,600 shares of company stock worth $193,192 in the last quarter. 25.50% of the stock is owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC acquired a new position in shares of AcelRx Pharmaceuticals during the 2nd quarter valued at $1,676,000. FMR LLC lifted its position in shares of AcelRx Pharmaceuticals by 1,094.6% during the 2nd quarter. FMR LLC now owns 298,644 shares of the specialty pharmaceutical company’s stock valued at $1,008,000 after acquiring an additional 273,644 shares during the period. BlackRock Inc. lifted its position in shares of AcelRx Pharmaceuticals by 2.7% during the 2nd quarter. BlackRock Inc. now owns 673,115 shares of the specialty pharmaceutical company’s stock valued at $2,271,000 after acquiring an additional 17,737 shares during the period. Granite Investment Partners LLC acquired a new position in shares of AcelRx Pharmaceuticals during the 2nd quarter valued at $182,000. Finally, Lincoln Capital Corp acquired a new position in shares of AcelRx Pharmaceuticals during the 2nd quarter valued at $116,000. Institutional investors own 8.39% of the company’s stock.
AcelRx Pharmaceuticals stock traded up $0.02 during trading hours on Friday, hitting $2.92. 100 shares of the stock were exchanged, compared to its average volume of 616,064. AcelRx Pharmaceuticals has a 12 month low of $1.55 and a 12 month high of $5.75. The stock has a market capitalization of $184.83 million, a price-to-earnings ratio of -2.68 and a beta of 2.13. The company has a current ratio of 4.01, a quick ratio of 3.96 and a debt-to-equity ratio of -0.15.
AcelRx Pharmaceuticals Company Profile
AcelRx Pharmaceuticals, Inc, a specialty pharmaceutical company, focuses on the development and commercialization of therapies for the treatment of acute pain. Its lead product candidate is DSUVIA, a 30 mcg sufentanil sublingual tablet for the treatment of moderate-to-severe acute pain. The company also develops ZALVISO, a pre-programmed and patient-controlled analgesia system that allows hospital patients with moderate-to-severe acute pain to self-dose with sufentanil sublingual tablets to manage their pain.
Further Reading: How to Invest in Growth Stocks
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for AcelRx Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AcelRx Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.