-$0.28 EPS Expected for AcelRx Pharmaceuticals, Inc. (ACRX) This Quarter
Analysts forecast that AcelRx Pharmaceuticals, Inc. (NASDAQ:ACRX) will report earnings of ($0.28) per share for the current quarter, according to Zacks. Three analysts have issued estimates for AcelRx Pharmaceuticals’ earnings, with estimates ranging from ($0.32) to ($0.23). AcelRx Pharmaceuticals reported earnings of ($0.24) per share in the same quarter last year, which indicates a negative year-over-year growth rate of 16.7%. The company is expected to announce its next earnings results on Thursday, July 27th.
According to Zacks, analysts expect that AcelRx Pharmaceuticals will report full year earnings of ($1.12) per share for the current financial year, with EPS estimates ranging from ($1.24) to ($0.97). For the next fiscal year, analysts expect that the business will post earnings of ($0.84) per share, with EPS estimates ranging from ($1.29) to ($0.64). Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that that provide coverage for AcelRx Pharmaceuticals.
AcelRx Pharmaceuticals (NASDAQ:ACRX) last issued its quarterly earnings data on Monday, May 8th. The specialty pharmaceutical company reported ($0.34) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.28) by $0.06. AcelRx Pharmaceuticals had a negative return on equity of 478.66% and a negative net margin of 273.65%. The business had revenue of $3.11 million for the quarter, compared to analysts’ expectations of $2.36 million.
Several equities analysts have weighed in on ACRX shares. Jefferies Group LLC restated a “buy” rating and set a $7.00 price target on shares of AcelRx Pharmaceuticals in a report on Friday, July 14th. Zacks Investment Research upgraded AcelRx Pharmaceuticals from a “hold” rating to a “buy” rating and set a $3.00 target price for the company in a report on Wednesday, May 3rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. AcelRx Pharmaceuticals presently has a consensus rating of “Hold” and an average price target of $8.67.
Shares of AcelRx Pharmaceuticals (ACRX) traded up 12.70% during mid-day trading on Monday, reaching $3.55. The company’s stock had a trading volume of 1,486,327 shares. The stock’s market capitalization is $161.10 million. AcelRx Pharmaceuticals has a 12-month low of $1.95 and a 12-month high of $4.08. The company’s 50-day moving average price is $2.38 and its 200-day moving average price is $2.71.
In other news, major shareholder Life Sciences Maste Perceptive sold 875,000 shares of the business’s stock in a transaction on Monday, June 19th. The stock was sold at an average price of $2.40, for a total value of $2,100,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 28.10% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp increased its stake in AcelRx Pharmaceuticals by 6.6% in the first quarter. Bank of New York Mellon Corp now owns 112,682 shares of the specialty pharmaceutical company’s stock valued at $355,000 after buying an additional 6,942 shares during the last quarter. ING Groep NV increased its stake in shares of AcelRx Pharmaceuticals by 200.0% in the first quarter. ING Groep NV now owns 39,000 shares of the specialty pharmaceutical company’s stock worth $123,000 after buying an additional 26,000 shares during the last quarter. Acadian Asset Management LLC increased its stake in shares of AcelRx Pharmaceuticals by 326.1% in the first quarter. Acadian Asset Management LLC now owns 41,927 shares of the specialty pharmaceutical company’s stock worth $132,000 after buying an additional 32,087 shares during the last quarter. Finally, Teachers Advisors LLC increased its stake in shares of AcelRx Pharmaceuticals by 14.6% in the fourth quarter. Teachers Advisors LLC now owns 66,715 shares of the specialty pharmaceutical company’s stock worth $173,000 after buying an additional 8,475 shares during the last quarter. Institutional investors and hedge funds own 30.32% of the company’s stock.
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About AcelRx Pharmaceuticals
AcelRx Pharmaceuticals, Inc is a pharmaceutical company focused on the development and commercialization of therapies for the treatment of moderate-to-severe acute pain. The Company operates through the segment, which includes development and commercialization of product candidates for the treatment of pain.
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