AcelRx Pharmaceuticals, Inc. (ACRX) Expected to Announce Quarterly Sales of $2.63 Million
Analysts expect AcelRx Pharmaceuticals, Inc. (NASDAQ:ACRX) to post sales of $2.63 million for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for AcelRx Pharmaceuticals’ earnings. The lowest sales estimate is $1.50 million and the highest is $3.90 million. AcelRx Pharmaceuticals posted sales of $4.53 million in the same quarter last year, which suggests a negative year-over-year growth rate of 41.9%. The firm is expected to issue its next quarterly earnings results after the market closes on Wednesday, August 2nd.
According to Zacks, analysts expect that AcelRx Pharmaceuticals will report full year sales of $2.63 million for the current year, with estimates ranging from $8.20 million to $15.78 million. For the next financial year, analysts expect that the company will post sales of $33.00 million per share, with estimates ranging from $13.80 million to $44.82 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that follow AcelRx Pharmaceuticals.
AcelRx Pharmaceuticals (NASDAQ:ACRX) last released its quarterly earnings results on Monday, May 8th. The specialty pharmaceutical company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.28) by $0.06. The firm had revenue of $3.11 million for the quarter, compared to analysts’ expectations of $2.36 million. AcelRx Pharmaceuticals had a negative net margin of 273.65% and a negative return on equity of 478.66%.
ACRX has been the subject of several recent research reports. Jefferies Group LLC reissued a “buy” rating and issued a $7.00 price objective on shares of AcelRx Pharmaceuticals in a research note on Friday, July 14th. Zacks Investment Research raised shares of AcelRx Pharmaceuticals from a “hold” rating to a “buy” rating and set a $3.00 target price on the stock in a report on Wednesday, May 3rd. Finally, ValuEngine raised shares of AcelRx Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $8.67.
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AcelRx Pharmaceuticals (NASDAQ:ACRX) traded down 3.816% on Wednesday, hitting $3.655. 502,446 shares of the stock were exchanged. AcelRx Pharmaceuticals has a 12 month low of $1.95 and a 12 month high of $4.08. The company has a 50-day moving average of $2.43 and a 200 day moving average of $2.73. The firm’s market cap is $165.86 million.
In other AcelRx Pharmaceuticals news, major shareholder Life Sciences Maste Perceptive sold 875,000 shares of the firm’s stock in a transaction that occurred on Monday, June 19th. The shares were sold at an average price of $2.40, for a total transaction of $2,100,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 28.10% of the stock is currently owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in ACRX. Bank of New York Mellon Corp boosted 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 worth $355,000 after buying an additional 6,942 shares during the last quarter. ING Groep NV boosted its position 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 boosted its position 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 boosted its position 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. 30.32% of the stock is currently owned by institutional investors.
AcelRx Pharmaceuticals Company Profile
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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