$2.46 Million in Sales Expected for AcelRx Pharmaceuticals, Inc. (ACRX) This Quarter
Equities analysts expect that AcelRx Pharmaceuticals, Inc. (NASDAQ:ACRX) will post sales of $2.46 million for the current quarter, according to Zacks. Three analysts have issued estimates for AcelRx Pharmaceuticals’ earnings, with the highest sales estimate coming in at $2.79 million and the lowest estimate coming in at $2.20 million. AcelRx Pharmaceuticals posted sales of $3.37 million in the same quarter last year, which suggests a negative year-over-year growth rate of 27%. The firm is scheduled to announce its next quarterly earnings report on Tuesday, November 7th.
On average, analysts expect that AcelRx Pharmaceuticals will report full year sales of $2.46 million for the current year, with estimates ranging from $9.80 million to $11.70 million. For the next year, analysts anticipate that the business will post sales of $30.70 million per share, with estimates ranging from $13.80 million to $40.39 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover AcelRx Pharmaceuticals.
AcelRx Pharmaceuticals (NASDAQ:ACRX) last released its earnings results on Tuesday, August 1st. The specialty pharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.28) by ($0.01). The firm had revenue of $2.66 million during the quarter, compared to analysts’ expectations of $2.63 million. AcelRx Pharmaceuticals had a negative net margin of 319.19% and a negative return on equity of 478.66%.
A number of equities research analysts have commented on the company. Cowen and Company restated a “hold” rating on shares of AcelRx Pharmaceuticals in a research report on Tuesday, August 1st. Royal Bank Of Canada set a $6.00 price objective on AcelRx Pharmaceuticals and gave the stock a “buy” rating in a research report on Friday, August 25th. Stifel Nicolaus upgraded AcelRx Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Wednesday, August 9th. Piper Jaffray Companies set a $3.00 price objective on AcelRx Pharmaceuticals and gave the stock a “hold” rating in a research report on Tuesday, July 25th. Finally, Zacks Investment Research upgraded AcelRx Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, August 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. AcelRx Pharmaceuticals currently has an average rating of “Hold” and an average price target of $7.50.
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In other news, CEO Vincent J. Angotti purchased 15,000 shares of AcelRx Pharmaceuticals stock in a transaction dated Thursday, August 24th. The stock was acquired at an average cost of $3.00 per share, for a total transaction of $45,000.00. Following the acquisition, the chief executive officer now directly owns 15,000 shares in the company, valued at $45,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Pamela P. Palmer purchased 10,000 shares of AcelRx Pharmaceuticals stock in a transaction dated Tuesday, August 22nd. The shares were purchased at an average price of $2.95 per share, with a total value of $29,500.00. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 37,000 shares of company stock valued at $112,280. 28.10% of the stock is owned by corporate insiders.
Several institutional investors have recently made changes to their positions in ACRX. Acadian Asset Management LLC lifted its holdings in shares of AcelRx Pharmaceuticals by 326.1% during the 1st quarter. Acadian Asset Management LLC now owns 41,927 shares of the specialty pharmaceutical company’s stock valued at $132,000 after buying an additional 32,087 shares during the last quarter. Teachers Advisors LLC lifted its holdings in shares of AcelRx Pharmaceuticals by 14.6% during the 4th quarter. Teachers Advisors LLC now owns 66,715 shares of the specialty pharmaceutical company’s stock valued at $173,000 after buying an additional 8,475 shares during the last quarter. Virtu KCG Holdings LLC lifted its holdings in shares of AcelRx Pharmaceuticals by 600.9% during the 2nd quarter. Virtu KCG Holdings LLC now owns 118,675 shares of the specialty pharmaceutical company’s stock valued at $255,000 after buying an additional 101,742 shares during the last quarter. LMR Partners LLP acquired a new stake in shares of AcelRx Pharmaceuticals during the 2nd quarter valued at about $319,000. Finally, Bank of New York Mellon Corp lifted its holdings in shares of AcelRx Pharmaceuticals by 6.6% during the 1st quarter. Bank of New York Mellon Corp now owns 112,682 shares of the specialty pharmaceutical company’s stock valued at $355,000 after buying an additional 6,942 shares during the last quarter. Institutional investors and hedge funds own 23.32% of the company’s stock.
AcelRx Pharmaceuticals (NASDAQ:ACRX) opened at 3.20 on Tuesday. AcelRx Pharmaceuticals has a 12-month low of $1.95 and a 12-month high of $4.08. The stock’s market capitalization is $145.22 million. The firm has a 50-day moving average of $3.10 and a 200-day moving average of $2.81.
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.
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