Equities analysts predict that AcelRx Pharmaceuticals Inc (NASDAQ:ACRX) will announce earnings per share of ($0.20) for the current quarter, according to Zacks. Two analysts have issued estimates for AcelRx Pharmaceuticals’ earnings, with the lowest EPS estimate coming in at ($0.23) and the highest estimate coming in at ($0.18). AcelRx Pharmaceuticals reported earnings of ($0.21) per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 4.8%. The firm is expected to report its next earnings results on Thursday, March 1st.
On average, analysts expect that AcelRx Pharmaceuticals will report full-year earnings of ($1.07) per share for the current fiscal year, with EPS estimates ranging from ($1.14) to ($0.98). For the next fiscal year, analysts expect that the firm will report earnings of ($0.99) per share, with EPS estimates ranging from ($1.07) to ($0.85). Zacks’ EPS calculations are a mean average based on a survey of research firms that cover AcelRx Pharmaceuticals.
Several equities research analysts have commented on the stock. ValuEngine upgraded shares of AcelRx Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Tuesday, September 26th. Jefferies Group downgraded shares of AcelRx Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday, October 13th. Royal Bank of Canada reduced their target price 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. Piper Jaffray Companies reissued a “hold” rating and set a $2.00 target price on shares of AcelRx Pharmaceuticals in a research report on Friday, October 13th. Finally, Zacks Investment Research raised shares of AcelRx Pharmaceuticals from a “hold” rating to a “buy” rating and set a $2.25 target price for the company in a research report on Wednesday, December 27th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. AcelRx Pharmaceuticals presently has a consensus rating of “Hold” and an average price target of $6.18.
In related news, Director Mark G. Edwards bought 30,000 shares of AcelRx Pharmaceuticals stock in a transaction dated Tuesday, November 14th. The stock was purchased at an average cost of $1.90 per share, with a total value of $57,000.00. Following the transaction, the director now directly owns 150,000 shares of the company’s stock, valued at $285,000. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 28.10% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in ACRX. Perennial Advisors LLC bought a new position in AcelRx Pharmaceuticals in the 3rd quarter worth approximately $138,000. Virtu KCG Holdings LLC boosted its holdings in AcelRx Pharmaceuticals by 600.9% in the 2nd 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 period. Geller Family Office Services LLC bought a new position in AcelRx Pharmaceuticals in the 3rd quarter worth approximately $460,000. Finally, Goldman Sachs Group Inc. bought a new position in AcelRx Pharmaceuticals in the 2nd quarter worth approximately $530,000. 13.70% of the stock is owned by institutional investors.
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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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