AcelRx Pharmaceuticals, Inc. (ACRX) Expected to Announce Quarterly Sales of $2.46 Million
Brokerages predict that AcelRx Pharmaceuticals, Inc. (NASDAQ:ACRX) will post $2.46 million in sales for the current quarter, Zacks reports. Three analysts have made estimates for AcelRx Pharmaceuticals’ earnings. The lowest sales estimate is $2.20 million and the highest is $2.79 million. AcelRx Pharmaceuticals posted sales of $3.37 million during the same quarter last year, which suggests a negative year over year growth rate of 27%. The company is expected to announce its next earnings report on Tuesday, November 7th.
On average, analysts expect that AcelRx Pharmaceuticals will report full year sales of $2.46 million for the current year, with estimates ranging from $9.80 million to $11.70 million. For the next financial year, analysts forecast that the firm will report sales of $22.52 million per share, with estimates ranging from $11.30 million to $40.39 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that cover AcelRx Pharmaceuticals.
AcelRx Pharmaceuticals (NASDAQ:ACRX) last posted its quarterly earnings data on Tuesday, August 1st. The specialty pharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.28) by ($0.01). The company had revenue of $2.66 million for the quarter, compared to analyst estimates of $2.63 million.
ACRX has been the subject of a number of research analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $5.00 price objective on shares of AcelRx Pharmaceuticals in a research report on Friday. Zacks Investment Research cut shares of AcelRx Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. ValuEngine cut shares of AcelRx Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Thursday, October 12th. Jefferies Group LLC cut shares of AcelRx Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday, October 13th. Finally, Royal Bank Of Canada reduced their price objective on shares of AcelRx Pharmaceuticals from $6.00 to $5.00 and set an “outperform” rating for the company in a research report on Friday, October 13th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. AcelRx Pharmaceuticals currently has a consensus rating of “Hold” and a consensus target price of $6.83.
AcelRx Pharmaceuticals (NASDAQ ACRX) traded up 2.78% during mid-day trading on Friday, hitting $1.85. 120,869 shares of the company traded hands. The stock’s market capitalization is $83.95 million. The company’s 50-day moving average is $3.47 and its 200-day moving average is $2.90. AcelRx Pharmaceuticals has a one year low of $1.55 and a one year high of $5.75.
In other news, insider Lawrence G. Hamel sold 10,161 shares of the business’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $5.29, for a total value of $53,751.69. Following the completion of the sale, the insider now owns 16,379 shares of the company’s stock, valued at $86,644.91. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Pamela P. Palmer bought 10,000 shares of AcelRx Pharmaceuticals stock in a transaction dated Tuesday, August 22nd. The stock was acquired at an average cost of $2.95 per share, with a total value of $29,500.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 37,000 shares of company stock valued at $112,280. Company insiders own 28.10% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. bought a new stake in shares of AcelRx Pharmaceuticals in the second quarter valued at about $530,000. WealthTrust Axiom LLC boosted its position in shares of AcelRx Pharmaceuticals by 50.0% in the second quarter. WealthTrust Axiom LLC now owns 210,000 shares of the specialty pharmaceutical company’s stock valued at $451,000 after acquiring an additional 70,000 shares during the period. LMR Partners LLP bought a new stake in shares of AcelRx Pharmaceuticals in the second quarter valued at about $319,000. Virtu KCG Holdings LLC boosted its position in shares of AcelRx Pharmaceuticals by 600.9% in the second quarter. Virtu KCG Holdings LLC now owns 118,675 shares of the specialty pharmaceutical company’s stock valued at $255,000 after acquiring an additional 101,742 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of 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 acquiring an additional 6,942 shares during the period. 23.32% of the stock is 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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