Wall Street brokerages expect AcelRx Pharmaceuticals Inc (NASDAQ:ACRX) to post $1.10 million in sales for the current fiscal quarter, according to Zacks. Two analysts have made estimates for AcelRx Pharmaceuticals’ earnings, with the lowest sales estimate coming in at $800,000.00 and the highest estimate coming in at $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 expected to report its next 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 fiscal year, with estimates ranging from $1.00 million to $11.00 million. For the next year, analysts expect that the company will post sales of $19.90 million per share, with estimates ranging from $11.00 million to $30.50 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover AcelRx Pharmaceuticals.
AcelRx Pharmaceuticals (NASDAQ:ACRX) last announced its quarterly earnings data on Thursday, August 2nd. The specialty pharmaceutical company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.01). The company had revenue of $0.82 million during the quarter, compared to the consensus estimate of $0.93 million.
Several brokerages recently issued reports on ACRX. Cantor Fitzgerald reissued an “overweight” rating on shares of AcelRx Pharmaceuticals in a research note on Thursday, June 14th. Zacks Investment Research cut AcelRx Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, June 26th. Oppenheimer reaffirmed a “hold” rating on shares of AcelRx Pharmaceuticals in a research report on Friday, August 3rd. ValuEngine raised AcelRx Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, June 1st. Finally, HC Wainwright reaffirmed a “buy” rating on shares of AcelRx Pharmaceuticals in a research report on Tuesday, August 7th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. AcelRx Pharmaceuticals presently has an average rating of “Buy” and a consensus price target of $5.21.
In other AcelRx Pharmaceuticals news, CEO Vincent J. Angotti acquired 10,000 shares of the firm’s stock in a transaction dated Tuesday, August 7th. The stock was purchased at an average price of $2.90 per share, for a total transaction of $29,000.00. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Pamela P. Palmer acquired 37,000 shares of the firm’s stock in a transaction dated Monday, August 6th. The shares were acquired at an average price of $2.75 per share, with a total value of $101,750.00. The disclosure for this purchase can be found here. Insiders have acquired a total of 57,300 shares of company stock worth $159,552 in the last ninety days. Insiders own 25.50% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of ACRX. Northern Trust Corp lifted its holdings in shares of AcelRx Pharmaceuticals by 60.8% during the 1st quarter. Northern Trust Corp now owns 91,481 shares of the specialty pharmaceutical company’s stock valued at $192,000 after purchasing an additional 34,584 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in shares of AcelRx Pharmaceuticals during the 1st quarter valued at $113,000. Lincoln Capital Corp purchased a new stake in shares of AcelRx Pharmaceuticals during the 2nd quarter valued at $116,000. Granite Investment Partners LLC purchased a new stake in shares of AcelRx Pharmaceuticals during the 2nd quarter valued at $182,000. Finally, BlackRock Inc. lifted its holdings 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 purchasing an additional 17,737 shares during the last quarter. Hedge funds and other institutional investors own 8.59% of the company’s stock.
NASDAQ:ACRX traded up $0.05 during midday trading on Wednesday, hitting $3.25. The stock had a trading volume of 191,720 shares, compared to its average volume of 418,834. AcelRx Pharmaceuticals has a one year low of $1.55 and a one year high of $5.75. The stock has a market cap of $193.92 million, a P/E ratio of -2.95 and a beta of 2.09. The company has a quick ratio of 3.96, a current ratio of 4.01 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.
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