Apricus Biosciences Inc. (NASDAQ:APRI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.

According to Zacks, “Apricus Bio operates in the pharmaceutical industry and focuses on research and development in the area of drug delivery. Its proprietary drug delivery technology is called NexACT ®. Backed by revenue generating CRO business, Bio-Quant, Inc. and its NexMed USA subsidiary, Apricus Bio has leveraged the flexibility of its proven NexACT® drug delivery technology to enable multi-route administration of new and improved compounds across numerous therapeutic classes. The Company is seeking to monetize its existing product pipeline, including compounds from pre-clinical through Phase 3, currently focused on dermatology, sexual dysfunction and cancer. Apricus Bio was formerly known as NexMed, Inc and is headquartered in San Diago, California. “

Apricus Biosciences (NASDAQ:APRI) traded down 5.71% on Wednesday, hitting $0.33. The stock had a trading volume of 316,305 shares. The stock’s market capitalization is $21.90 million. Apricus Biosciences has a 1-year low of $0.28 and a 1-year high of $1.64. The company has a 50-day moving average price of $0.36 and a 200-day moving average price of $0.41.

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Apricus Biosciences (NASDAQ:APRI) last released its earnings results on Thursday, August 4th. The company reported ($0.05) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.08) by $0.03. During the same period in the prior year, the company posted ($0.10) earnings per share. Equities analysts predict that Apricus Biosciences will post ($0.17) earnings per share for the current year.

A hedge fund recently raised its stake in Apricus Biosciences stock. Vanguard Group Inc. boosted its position in Apricus Biosciences Inc. (NASDAQ:APRI) by 0.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,511,841 shares of the company’s stock after buying an additional 9,786 shares during the period. Vanguard Group Inc. owned about 2.44% of Apricus Biosciences worth $604,000 as of its most recent filing with the SEC. 23.83% of the stock is owned by institutional investors.

About Apricus Biosciences

Apricus Biosciences, Inc is a pharmaceutical company, which develops pharmaceutical products. The Company primarily focuses on the development and commercialization of products and product candidates in the areas of urology and rheumatology. The Company’s drug delivery technology is a permeation enhancer called NexACT.

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