Apricus Biosciences Coverage Initiated by Analysts at Cantor Fitzgerald (APRI)
Investment analysts at Cantor Fitzgerald started coverage on shares of Apricus Biosciences (NASDAQ:APRI) in a note issued to investors on Friday, TheFlyOnTheWall.com reports. The firm set a “hold” rating and a $2.00 price target on the stock. Cantor Fitzgerald’s price target indicates a potential downside of 8.26% from the company’s current price.
The analysts wrote, “Apricus offers a niche men’s sexual health product and a pipeline program in female sexual health: Vitaros is a topical cream that has been recently approved for the treatment of erectile dysfunction (ED) in Europe. We expect peak royalties of $35M based on revenues of ~$300M along with $15M in transfer pricing. A second topical cream for the treatment of female sexual dysfunction (Femprox) still has to progress through late-stage clinical trials. We need to get comfortable with the development pathway for this asset but think that positive data in the 2016 time frame could make Apricus significantly more attractive. Because we think the story needs more time to develop, we are taking a cautious stance on the stock and initiating coverage with a HOLD rating and $2.00 price target (PT).”
Apricus Biosciences (NASDAQ:APRI) remained flat at $2.18 during trading on Friday. 127,566 shares of the company’s stock traded hands. Apricus Biosciences has a 52 week low of $1.89 and a 52 week high of $3.49. The stock’s 50-day moving average is $2.22 and its 200-day moving average is $2.52. The company’s market cap is $80.6 million.
Apricus Biosciences, Inc, formerly NexMed, Inc, is a pharmaceutical research and development company focused on the design and development of products and technologies in multiple therapeutic areas, including oncology, sexual dysfunction, autoimmune diseases and pain/inflammation.
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