Equities analysts expect AcelRx Pharmaceuticals Inc (NASDAQ:ACRX) to announce sales of $1.23 million for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for AcelRx Pharmaceuticals’ earnings, with the lowest sales estimate coming in at $1.16 million and the highest estimate coming in at $1.30 million. AcelRx Pharmaceuticals posted sales of $610,000.00 during the same quarter last year, which would indicate a positive year-over-year growth rate of 101.6%. The business is expected to announce its next earnings report on Thursday, March 5th.
According to Zacks, analysts expect that AcelRx Pharmaceuticals will report full-year sales of $3.04 million for the current fiscal year, with estimates ranging from $2.97 million to $3.10 million. For the next fiscal year, analysts anticipate that the business will report sales of $35.39 million, with estimates ranging from $32.17 million to $38.60 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that follow AcelRx Pharmaceuticals.
AcelRx Pharmaceuticals (NASDAQ:ACRX) last posted its quarterly earnings data on Wednesday, November 6th. The specialty pharmaceutical company reported ($0.16) EPS for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.07. The firm had revenue of $0.61 million for the quarter, compared to analysts’ expectations of $1.22 million.
A number of brokerages have recently weighed in on ACRX. Zacks Investment Research upgraded AcelRx Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $2.25 target price on the stock in a report on Monday, November 11th. Credit Suisse Group downgraded AcelRx Pharmaceuticals from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $7.00 to $2.00 in a report on Monday, November 11th. Finally, HC Wainwright reiterated a “buy” rating and issued a $9.00 target price on shares of AcelRx Pharmaceuticals in a report on Friday, November 8th. Four investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. AcelRx Pharmaceuticals currently has an average rating of “Buy” and an average target price of $6.46.
In related news, Director Mark G. Edwards purchased 25,000 shares of the stock in a transaction on Tuesday, November 12th. The shares were bought at an average price of $1.78 per share, for a total transaction of $44,500.00. Following the completion of the acquisition, the director now directly owns 243,750 shares in the company, valued at approximately $433,875. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 7.50% of the company’s stock.
Hedge funds have recently made changes to their positions in the business. WINTON GROUP Ltd bought a new stake in shares of AcelRx Pharmaceuticals in the second quarter valued at approximately $40,000. Wells Fargo & Company MN boosted its position in shares of AcelRx Pharmaceuticals by 15.4% in the second quarter. Wells Fargo & Company MN now owns 254,709 shares of the specialty pharmaceutical company’s stock valued at $644,000 after acquiring an additional 33,910 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of AcelRx Pharmaceuticals by 573.3% in the second quarter. Charles Schwab Investment Management Inc. now owns 191,483 shares of the specialty pharmaceutical company’s stock valued at $485,000 after acquiring an additional 163,045 shares during the period. Bank of New York Mellon Corp boosted its position in shares of AcelRx Pharmaceuticals by 306.1% in the second quarter. Bank of New York Mellon Corp now owns 253,974 shares of the specialty pharmaceutical company’s stock valued at $643,000 after acquiring an additional 191,432 shares during the period. Finally, Northern Trust Corp boosted its position in shares of AcelRx Pharmaceuticals by 122.4% in the second quarter. Northern Trust Corp now owns 290,252 shares of the specialty pharmaceutical company’s stock valued at $734,000 after acquiring an additional 159,744 shares during the period. Institutional investors own 23.19% of the company’s stock.
Shares of ACRX remained flat at $$1.86 during trading hours on Wednesday. The stock had a trading volume of 757,019 shares, compared to its average volume of 1,476,130. The company has a market cap of $144.42 million, a price-to-earnings ratio of -2.30 and a beta of 2.02. AcelRx Pharmaceuticals has a one year low of $1.64 and a one year high of $4.09. The firm has a fifty day moving average of $1.96 and a 200 day moving average of $2.32.
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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