-$0.26 Earnings Per Share Expected for AcelRx Pharmaceuticals, Inc. (ACRX) This Quarter
Equities analysts expect that AcelRx Pharmaceuticals, Inc. (NASDAQ:ACRX) will announce earnings per share of ($0.26) for the current quarter, Zacks reports. Three analysts have issued estimates for AcelRx Pharmaceuticals’ earnings. The highest EPS estimate is ($0.22) and the lowest is ($0.30). AcelRx Pharmaceuticals reported earnings of ($0.25) per share in the same quarter last year, which would indicate a negative year over year growth rate of 4%. The firm is expected to announce its next earnings report on Tuesday, November 7th.
On average, analysts expect that AcelRx Pharmaceuticals will report full year earnings of ($1.13) per share for the current year, with EPS estimates ranging from ($1.20) to ($1.02). For the next year, analysts forecast that the business will report earnings of ($0.84) per share, with EPS estimates ranging from ($1.31) to ($0.64). Zacks Investment Research’s earnings per share 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 released its quarterly earnings results on Tuesday, August 1st. The specialty pharmaceutical company reported ($0.29) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.28) by ($0.01). The firm had revenue of $2.66 million during the quarter, compared to analysts’ expectations of $2.63 million.
A number of research analysts recently issued reports on ACRX shares. Jefferies Group LLC reiterated a “buy” rating and issued a $7.00 target price on shares of AcelRx Pharmaceuticals in a report on Friday, July 14th. Royal Bank Of Canada set a $6.00 target price on AcelRx Pharmaceuticals and gave the company a “buy” rating in a report on Friday, August 25th. Roth Capital reiterated a “buy” rating and issued a $12.50 target price on shares of AcelRx Pharmaceuticals in a report on Thursday, August 10th. Stifel Nicolaus upgraded AcelRx Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Wednesday, August 9th. Finally, HC Wainwright reiterated a “buy” rating and issued a $7.00 target price on shares of AcelRx Pharmaceuticals in a report on Friday, August 4th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $8.75.
In other news, CEO Vincent J. Angotti bought 15,000 shares of the business’s stock in a transaction dated Thursday, August 24th. The shares were acquired at an average price of $3.00 per share, for a total transaction of $45,000.00. Following the completion of the transaction, the chief executive officer now owns 15,000 shares of the company’s stock, valued at $45,000. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Lawrence G. Hamel sold 10,161 shares of AcelRx Pharmaceuticals stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $5.29, for a total value of $53,751.69. Following the sale, the insider now owns 16,379 shares in the company, valued at approximately $86,644.91. The disclosure for this sale can be found here. Insiders have bought 37,000 shares of company stock worth $112,280 in the last quarter. Insiders own 28.10% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Teachers Advisors LLC grew its holdings in shares of AcelRx Pharmaceuticals by 14.6% during 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. Virtu KCG Holdings LLC grew its holdings in shares of AcelRx Pharmaceuticals by 600.9% during the second quarter. Virtu KCG Holdings LLC now owns 118,675 shares of the specialty pharmaceutical company’s stock worth $255,000 after buying an additional 101,742 shares during the last quarter. LMR Partners LLP purchased a new position in shares of AcelRx Pharmaceuticals during the second quarter worth about $319,000. Bank of New York Mellon Corp grew its holdings in shares of AcelRx Pharmaceuticals by 6.6% during 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. Finally, WealthTrust Axiom LLC grew its holdings in shares of AcelRx Pharmaceuticals by 50.0% during the second quarter. WealthTrust Axiom LLC now owns 210,000 shares of the specialty pharmaceutical company’s stock worth $451,000 after buying an additional 70,000 shares during the last quarter. 23.32% of the stock is currently owned by hedge funds and other institutional investors.
AcelRx Pharmaceuticals (NASDAQ ACRX) opened at 5.05 on Friday. The stock has a 50 day moving average price of $3.56 and a 200 day moving average price of $2.92. AcelRx Pharmaceuticals has a 52-week low of $1.95 and a 52-week high of $5.75. The company’s market capitalization is $229.17 million.
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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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