AcelRx Pharmaceuticals Inc (ACRX) Expected to Post Quarterly Sales of $1.10 Million
Equities analysts forecast that AcelRx Pharmaceuticals Inc (NASDAQ:ACRX) will post sales of $1.10 million for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for AcelRx Pharmaceuticals’ earnings. The lowest sales estimate is $800,000.00 and the highest is $1.40 million. AcelRx Pharmaceuticals posted sales of $1.49 million during the same quarter last year, which suggests a negative year-over-year growth rate of 26.2%. The company is expected to announce its next quarterly earnings report on Thursday, November 8th.
According to Zacks, analysts expect that AcelRx Pharmaceuticals will report full year sales of $4.83 million for the current fiscal year, with estimates ranging from $1.00 million to $11.00 million. For the next fiscal year, analysts expect that the firm will post sales of $19.90 million per share, with estimates ranging from $11.00 million to $30.50 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for AcelRx Pharmaceuticals.
AcelRx Pharmaceuticals (NASDAQ:ACRX) last posted its quarterly earnings results on Thursday, August 2nd. The specialty pharmaceutical company reported ($0.20) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.19) by ($0.01). The business had revenue of $0.82 million for the quarter, compared to the consensus estimate of $0.93 million.
Shares of ACRX stock opened at $3.05 on Friday. AcelRx Pharmaceuticals has a 52 week low of $1.55 and a 52 week high of $5.75. The company has a current ratio of 4.01, a quick ratio of 3.96 and a debt-to-equity ratio of -0.15. The firm has a market capitalization of $187.86 million, a PE ratio of -2.77 and a beta of 2.13.
In other AcelRx Pharmaceuticals news, insider Pamela P. Palmer bought 37,000 shares of the business’s stock in a transaction dated Monday, August 6th. The shares were acquired at an average price of $2.75 per share, with a total value of $101,750.00. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Vincent J. Angotti bought 10,000 shares of the business’s stock in a transaction dated Tuesday, August 7th. The stock was acquired at an average cost of $2.90 per share, for a total transaction of $29,000.00. The disclosure for this purchase can be found here. In the last three months, insiders bought 67,600 shares of company stock worth $193,192. Insiders own 25.50% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Lincoln Capital Corp acquired a new stake in AcelRx Pharmaceuticals during the 2nd quarter valued at $116,000. GSA Capital Partners LLP acquired a new stake in AcelRx Pharmaceuticals during the 1st quarter valued at $113,000. Granite Investment Partners LLC acquired a new stake in AcelRx Pharmaceuticals during the 2nd quarter valued at $182,000. Northern Trust Corp grew its holdings in AcelRx Pharmaceuticals by 60.8% during the 1st 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 in the last quarter. Finally, FMR LLC grew its holdings in AcelRx Pharmaceuticals by 1,094.6% during the 2nd 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 in the last quarter. 7.08% of the stock is owned by institutional investors and hedge funds.
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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