Analysts expect that AcelRx Pharmaceuticals Inc (NASDAQ:ACRX) will post sales of $4.50 million for the current quarter, Zacks reports. Two analysts have made estimates for AcelRx Pharmaceuticals’ earnings, with the highest sales estimate coming in at $8.50 million and the lowest estimate coming in at $500,000.00. AcelRx Pharmaceuticals posted sales of $740,000.00 during the same quarter last year, which suggests a positive year over year growth rate of 508.1%. The firm is scheduled to issue its next quarterly earnings report on Thursday, November 8th.
On average, analysts expect that AcelRx Pharmaceuticals will report full-year sales of $4.13 million for the current financial year, with estimates ranging from $1.00 million to $11.00 million. For the next fiscal year, analysts anticipate that the firm will report sales of $13.78 million, with estimates ranging from $5.82 million to $19.30 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that cover AcelRx Pharmaceuticals.
AcelRx Pharmaceuticals (NASDAQ:ACRX) last released its quarterly earnings data on Friday, November 2nd. The specialty pharmaceutical company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.01). The firm had revenue of $0.38 million for the quarter, compared to the consensus estimate of $1.10 million.
A number of equities analysts have recently commented on the stock. LADENBURG THALM/SH SH set a $10.00 price objective on shares of AcelRx Pharmaceuticals and gave the company a “buy” rating in a research report on Friday. ValuEngine upgraded shares of AcelRx Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Friday. Cantor Fitzgerald set a $8.00 price objective on shares of AcelRx Pharmaceuticals and gave the company a “buy” rating in a research report on Friday. B. Riley assumed coverage on shares of AcelRx Pharmaceuticals in a research report on Tuesday, October 23rd. They issued a “buy” rating and a $9.00 price objective for the company. Finally, Royal Bank of Canada set a $7.00 price objective on shares of AcelRx Pharmaceuticals and gave the company a “buy” rating in a research report on Monday, October 22nd. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $7.64.
In other AcelRx Pharmaceuticals news, insider Lawrence G. Hamel sold 6,953 shares of AcelRx Pharmaceuticals stock in a transaction that occurred on Monday, September 24th. The shares were sold at an average price of $4.50, for a total transaction of $31,288.50. Following the completion of the sale, the insider now directly owns 24,371 shares in the company, valued at $109,669.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Badri N. Dasu sold 28,351 shares of AcelRx Pharmaceuticals stock in a transaction that occurred on Monday, October 15th. The shares were sold at an average price of $5.00, for a total transaction of $141,755.00. Following the sale, the insider now owns 54,061 shares of the company’s stock, valued at $270,305. The disclosure for this sale can be found here. 25.50% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in ACRX. Renaissance Technologies LLC bought a new stake in AcelRx Pharmaceuticals during the second quarter valued at approximately $1,676,000. FMR LLC lifted its position in AcelRx Pharmaceuticals by 1,094.6% during the second quarter. FMR LLC now owns 298,644 shares of the specialty pharmaceutical company’s stock valued at $1,008,000 after purchasing an additional 273,644 shares during the last quarter. Granite Investment Partners LLC bought a new stake in AcelRx Pharmaceuticals during the second quarter valued at approximately $182,000. Northern Trust Corp lifted its position in AcelRx Pharmaceuticals by 60.8% during the first quarter. Northern Trust Corp now owns 91,481 shares of the specialty pharmaceutical company’s stock valued at $192,000 after purchasing an additional 34,584 shares during the last quarter. Finally, Lincoln Capital Corp bought a new stake in AcelRx Pharmaceuticals during the second quarter valued at approximately $116,000. Institutional investors and hedge funds own 8.58% of the company’s stock.
Shares of ACRX stock traded down $0.43 during trading hours on Friday, reaching $4.37. The stock had a trading volume of 414,740 shares, compared to its average volume of 6,833,616. AcelRx Pharmaceuticals has a 12 month low of $1.65 and a 12 month high of $5.05. The firm has a market capitalization of $290.88 million, a P/E ratio of -4.00 and a beta of 2.03.
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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