Wall Street analysts forecast that AcelRx Pharmaceuticals Inc (NASDAQ:ACRX) will post sales of $2.90 million for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for AcelRx Pharmaceuticals’ earnings. The lowest sales estimate is $2.70 million and the highest is $3.10 million. AcelRx Pharmaceuticals posted sales of $6.44 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 55%. The company is scheduled to report its next quarterly earnings report on Thursday, March 1st.
On average, analysts expect that AcelRx Pharmaceuticals will report full-year sales of $2.90 million for the current financial year, with estimates ranging from $10.00 million to $11.27 million. For the next fiscal year, analysts anticipate that the business will report sales of $9.10 million per share, with estimates ranging from $6.90 million to $11.30 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover AcelRx Pharmaceuticals.
AcelRx Pharmaceuticals (NASDAQ:ACRX) last announced its quarterly earnings results on Thursday, November 9th. The specialty pharmaceutical company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.02).
ACRX has been the subject of several recent analyst reports. Zacks Investment Research upgraded AcelRx Pharmaceuticals from a “hold” rating to a “buy” rating and set a $2.25 price target for the company in a report on Wednesday, December 27th. HC Wainwright restated a “buy” rating and issued a $5.00 price target on shares of AcelRx Pharmaceuticals in a report on Friday, October 27th. Roth Capital set a $8.00 price target on AcelRx Pharmaceuticals and gave the stock a “buy” rating in a report on Thursday, October 12th. Jefferies Group downgraded AcelRx Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, October 13th. Finally, Piper Jaffray Companies restated a “hold” rating and issued a $2.00 price target on shares of AcelRx Pharmaceuticals in a report on Friday, October 13th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $6.21.
Shares of AcelRx Pharmaceuticals (NASDAQ ACRX) traded down $0.07 during trading on Thursday, hitting $1.95. The company’s stock had a trading volume of 339,043 shares, compared to its average volume of 398,011. AcelRx Pharmaceuticals has a 12 month low of $1.55 and a 12 month high of $5.75. The company has a market capitalization of $100.68, a P/E ratio of -1.74 and a beta of 2.96. The company has a quick ratio of 4.71, a current ratio of 4.78 and a debt-to-equity ratio of -0.43.
In other news, Director Mark G. Edwards acquired 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 14th. The stock was acquired at an average cost of $1.90 per share, for a total transaction of $57,000.00. Following the completion of the acquisition, the director now owns 150,000 shares in the company, valued at $285,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 28.10% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of ACRX. Goldman Sachs Group Inc. bought a new position in shares of AcelRx Pharmaceuticals during the second quarter worth about $530,000. Virtu KCG Holdings LLC grew its holdings 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 buying an additional 101,742 shares in the last quarter. Geller Family Office Services LLC bought a new position in shares of AcelRx Pharmaceuticals during the third quarter worth about $460,000. Finally, Perennial Advisors LLC bought a new position in shares of AcelRx Pharmaceuticals during the third quarter worth about $138,000. Institutional investors and hedge funds own 13.60% of the company’s stock.
COPYRIGHT VIOLATION WARNING: “$2.90 Million in Sales Expected for AcelRx Pharmaceuticals Inc (ACRX) This Quarter” was first posted by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this news story on another website, it was illegally copied and reposted in violation of international copyright & trademark laws. The original version of this news story can be read at https://www.dispatchtribunal.com/2018/02/14/2-90-million-in-sales-expected-for-acelrx-pharmaceuticals-inc-acrx-this-quarter.html.
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.
Get a free copy of the Zacks research report on AcelRx Pharmaceuticals (ACRX)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for AcelRx Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AcelRx Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.