Equities analysts predict that AcelRx Pharmaceuticals Inc (NASDAQ:ACRX) will post sales of $1.16 million for the current quarter, according to Zacks. Four analysts have made estimates for AcelRx Pharmaceuticals’ earnings, with the highest sales estimate coming in at $1.60 million and the lowest estimate coming in at $980,000.00. AcelRx Pharmaceuticals posted sales of $380,000.00 in the same quarter last year, which suggests a positive year over year growth rate of 205.3%. The firm is expected to issue its next earnings report on Friday, November 1st.
On average, analysts expect that AcelRx Pharmaceuticals will report full year sales of $4.90 million for the current financial year, with estimates ranging from $3.70 million to $5.80 million. For the next year, analysts anticipate that the firm will post sales of $29.21 million, with estimates ranging from $22.00 million to $38.60 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow AcelRx Pharmaceuticals.
AcelRx Pharmaceuticals (NASDAQ:ACRX) last posted its quarterly earnings data on Monday, August 5th. The specialty pharmaceutical company reported ($0.16) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.23) by $0.07. The firm had revenue of $0.94 million during the quarter, compared to analysts’ expectations of $1.55 million.
Several equities research analysts have recently issued reports on ACRX shares. Credit Suisse Group started coverage on shares of AcelRx Pharmaceuticals in a research note on Monday, August 5th. They set an “outperform” rating and a $7.00 price target for the company. Zacks Investment Research lowered shares of AcelRx Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, July 9th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $7.39.
In related news, Director Mark G. Edwards purchased 15,000 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was bought at an average price of $2.19 per share, for a total transaction of $32,850.00. Following the purchase, the director now directly owns 213,750 shares in the company, valued at approximately $468,112.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 7.50% of the company’s stock.
Several hedge funds have recently modified their holdings of ACRX. BlackRock Inc. grew its stake in AcelRx Pharmaceuticals by 149.8% in the 2nd quarter. BlackRock Inc. now owns 6,047,743 shares of the specialty pharmaceutical company’s stock valued at $15,301,000 after buying an additional 3,626,486 shares in the last quarter. D. E. Shaw & Co. Inc. grew its stake in AcelRx Pharmaceuticals by 199.8% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 859,971 shares of the specialty pharmaceutical company’s stock valued at $2,175,000 after buying an additional 573,139 shares in the last quarter. Vanguard Group Inc. grew its stake in AcelRx Pharmaceuticals by 15.5% in the 2nd quarter. Vanguard Group Inc. now owns 3,376,567 shares of the specialty pharmaceutical company’s stock valued at $8,542,000 after buying an additional 451,962 shares in the last quarter. Bank of New York Mellon Corp grew its stake in AcelRx Pharmaceuticals by 306.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 253,974 shares of the specialty pharmaceutical company’s stock valued at $643,000 after buying an additional 191,432 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in AcelRx Pharmaceuticals by 573.3% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 191,483 shares of the specialty pharmaceutical company’s stock valued at $485,000 after buying an additional 163,045 shares in the last quarter. Institutional investors own 21.40% of the company’s stock.
NASDAQ:ACRX remained flat at $$2.21 on Friday. 313,488 shares of the company’s stock traded hands, compared to its average volume of 647,282. The firm has a market cap of $175.55 million, a PE ratio of -2.73 and a beta of 2.11. AcelRx Pharmaceuticals has a 52-week low of $1.99 and a 52-week high of $5.05. The firm’s 50-day simple moving average is $2.32 and its two-hundred day simple moving average is $2.67.
AcelRx Pharmaceuticals Company Profile
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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