$2.90 Million in Sales Expected for AcelRx Pharmaceuticals, Inc. (ACRX) This Quarter
Wall Street brokerages expect AcelRx Pharmaceuticals, Inc. (NASDAQ:ACRX) to post sales of $2.90 million for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for AcelRx Pharmaceuticals’ earnings, with estimates ranging from $2.70 million to $3.10 million. AcelRx Pharmaceuticals reported sales of $6.44 million in the same quarter last year, which indicates a negative year over year growth rate of 55%. The company is expected to issue its next earnings report on Thursday, March 1st.
According to Zacks, analysts expect that AcelRx Pharmaceuticals will report full year sales of $2.90 million for the current year, with estimates ranging from $10.00 million to $11.27 million. For the next fiscal year, analysts forecast that the firm will report sales of $9.10 million per share, with estimates ranging from $6.90 million to $11.30 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover AcelRx Pharmaceuticals.
ACRX has been the topic of several recent analyst reports. Royal Bank Of Canada set a $6.00 price target on AcelRx Pharmaceuticals and gave the company a “buy” rating in a report on Friday, August 25th. ValuEngine lowered AcelRx Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Friday, September 15th. HC Wainwright reiterated a “buy” rating and issued a $10.00 price objective on shares of AcelRx Pharmaceuticals in a research report on Tuesday, October 3rd. Piper Jaffray Companies restated a “hold” rating and set a $2.00 price target on shares of AcelRx Pharmaceuticals in a research report on Friday, October 13th. Finally, Stifel Nicolaus upgraded AcelRx Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Wednesday, August 9th. One 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 stock. AcelRx Pharmaceuticals presently has a consensus rating of “Hold” and an average price target of $6.83.
Several large investors have recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its holdings in AcelRx Pharmaceuticals by 6.6% in the 1st 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. Perennial Advisors LLC purchased a new stake in AcelRx Pharmaceuticals in the third quarter valued at approximately $138,000. WealthTrust Axiom LLC increased its position 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 acquiring an additional 70,000 shares during the period. Geller Family Office Services LLC purchased a new stake in shares of AcelRx Pharmaceuticals during the third quarter worth $460,000. Finally, Virtu KCG Holdings LLC increased its position 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 acquiring an additional 101,742 shares during the period. Hedge funds and other institutional investors own 13.94% of the company’s stock.
Shares of AcelRx Pharmaceuticals (ACRX) traded down $0.05 on Tuesday, reaching $2.20. The company had a trading volume of 1,019,600 shares, compared to its average volume of 987,612. The company has a debt-to-equity ratio of -0.43, a quick ratio of 4.71 and a current ratio of 4.78. AcelRx Pharmaceuticals has a twelve month low of $1.55 and a twelve month high of $5.75.
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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