Apricus Biosciences Inc. (NASDAQ:APRI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Tuesday.

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 up 0.308% on Tuesday, hitting $0.326. 260,607 shares of the company were exchanged. The stock’s market capitalization is $21.63 million. Apricus Biosciences has a 52 week low of $0.28 and a 52 week high of $1.55. The company has a 50 day moving average price of $0.35 and a 200-day moving average price of $0.40.

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Apricus Biosciences (NASDAQ:APRI) last issued its quarterly earnings data on Thursday, August 4th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.08) by $0.03. During the same quarter in the previous year, the company earned ($0.10) EPS. On average, equities analysts expect that Apricus Biosciences will post ($0.17) earnings per share for the current fiscal year.

A hedge fund recently raised its stake in Apricus Biosciences stock. Vanguard Group Inc. increased its position in shares of Apricus Biosciences Inc. (NASDAQ:APRI) by 0.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor 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 currently owned by institutional investors and hedge funds.

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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