Equities analysts forecast that AcelRx Pharmaceuticals Inc (NASDAQ:ACRX) will announce sales of $1.16 million for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for AcelRx Pharmaceuticals’ earnings. The lowest sales estimate is $450,000.00 and the highest is $2.20 million. AcelRx Pharmaceuticals posted sales of $340,000.00 in the same quarter last year, which would indicate a positive year-over-year growth rate of 241.2%. The business is expected to announce its next earnings report on Wednesday, May 8th.
According to Zacks, analysts expect that AcelRx Pharmaceuticals will report full year sales of $8.97 million for the current fiscal year, with estimates ranging from $6.51 million to $13.40 million. For the next year, analysts forecast that the business will post sales of $36.57 million, with estimates ranging from $31.72 million to $47.20 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that follow AcelRx Pharmaceuticals.
AcelRx Pharmaceuticals (NASDAQ:ACRX) last issued its quarterly earnings data on Thursday, March 7th. The specialty pharmaceutical company reported ($0.18) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.20) by $0.02. The company had revenue of $0.61 million for the quarter, compared to the consensus estimate of $3.10 million.
ACRX has been the subject of a number of research analyst reports. Zacks Investment Research cut AcelRx Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Thursday, January 3rd. Cantor Fitzgerald set a $9.00 price target on AcelRx Pharmaceuticals and gave the company a “buy” rating in a report on Tuesday, January 29th. Credit Suisse Group initiated coverage on AcelRx Pharmaceuticals in a report on Friday, February 15th. They issued an “outperform” rating and a $7.00 price target for the company. LADENBURG THALM/SH SH set a $10.00 price target on AcelRx Pharmaceuticals and gave the company a “buy” rating in a report on Friday, March 8th. Finally, BidaskClub raised AcelRx Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Monday, April 1st. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $7.84.
In other AcelRx Pharmaceuticals news, Director Mark G. Edwards acquired 19,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The stock was acquired at an average cost of $2.99 per share, for a total transaction of $56,810.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders have bought a total of 26,721 shares of company stock valued at $78,506 over the last 90 days. Corporate insiders own 25.50% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of ACRX. BlackRock Inc. raised its stake in shares of AcelRx Pharmaceuticals by 196.6% during the 4th quarter. BlackRock Inc. now owns 2,331,736 shares of the specialty pharmaceutical company’s stock worth $5,386,000 after purchasing an additional 1,545,702 shares in the last quarter. Vanguard Group Inc grew its holdings in AcelRx Pharmaceuticals by 26.3% in the 3rd quarter. Vanguard Group Inc now owns 2,085,556 shares of the specialty pharmaceutical company’s stock valued at $8,030,000 after buying an additional 433,969 shares in the last quarter. Vanguard Group Inc. grew its holdings in AcelRx Pharmaceuticals by 26.3% in the 3rd quarter. Vanguard Group Inc. now owns 2,085,556 shares of the specialty pharmaceutical company’s stock valued at $8,030,000 after buying an additional 433,969 shares in the last quarter. Monashee Investment Management LLC grew its holdings in AcelRx Pharmaceuticals by 1,516.8% in the 4th quarter. Monashee Investment Management LLC now owns 1,652,190 shares of the specialty pharmaceutical company’s stock valued at $3,817,000 after buying an additional 1,550,000 shares in the last quarter. Finally, Two Sigma Investments LP grew its holdings in AcelRx Pharmaceuticals by 820.9% in the 4th quarter. Two Sigma Investments LP now owns 559,408 shares of the specialty pharmaceutical company’s stock valued at $1,292,000 after buying an additional 498,664 shares in the last quarter. Institutional investors and hedge funds own 18.69% of the company’s stock.
Shares of AcelRx Pharmaceuticals stock traded down $0.04 during trading on Friday, reaching $3.35. The company’s stock had a trading volume of 8,711 shares, compared to its average volume of 1,655,982. The company has a quick ratio of 6.73, a current ratio of 6.78 and a debt-to-equity ratio of 0.79. AcelRx Pharmaceuticals has a one year low of $1.99 and a one year high of $5.05. The stock has a market capitalization of $264.24 million, a price-to-earnings ratio of -4.12 and a beta of 2.15.
About AcelRx Pharmaceuticals
AcelRx Pharmaceuticals, Inc, a specialty pharmaceutical company, focuses on the development and commercialization of therapies for the treatment of acute pain. Its lead product candidate is DSUVIA, a 30 mcg sufentanil sublingual tablet for the treatment of moderate-to-severe acute pain. The company also develops ZALVISO, a pre-programmed and patient-controlled analgesia system that allows hospital patients with moderate-to-severe acute pain to self-dose with sufentanil sublingual tablets to manage their pain.
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