FY2019 EPS Estimates for AcelRx Pharmaceuticals Inc Raised by Cantor Fitzgerald (NASDAQ:ACRX)

AcelRx Pharmaceuticals Inc (NASDAQ:ACRX) – Research analysts at Cantor Fitzgerald raised their FY2019 earnings estimates for AcelRx Pharmaceuticals in a research note issued to investors on Thursday, November 7th. Cantor Fitzgerald analyst B. Folkes now forecasts that the specialty pharmaceutical company will post earnings per share of ($0.68) for the year, up from their prior forecast of ($0.74).

AcelRx Pharmaceuticals (NASDAQ:ACRX) last released its earnings results on Wednesday, November 6th. The specialty pharmaceutical company reported ($0.16) EPS for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.07. The business had revenue of $0.61 million for the quarter, compared to analyst estimates of $1.22 million.

Several other equities analysts have also issued reports on the stock. Zacks Investment Research lowered shares of AcelRx Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Thursday, October 24th. Credit Suisse Group started coverage on shares of AcelRx Pharmaceuticals in a report on Monday, August 5th. They issued an “outperform” rating and a $7.00 price target for the company. Finally, HC Wainwright reissued a “buy” rating and issued a $9.00 price target on shares of AcelRx Pharmaceuticals in a report on Friday. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. AcelRx Pharmaceuticals has an average rating of “Buy” and a consensus price target of $7.33.

Shares of ACRX stock opened at $1.94 on Monday. AcelRx Pharmaceuticals has a 12-month low of $1.85 and a 12-month high of $4.09. The firm has a market capitalization of $161.25 million, a price-to-earnings ratio of -2.40 and a beta of 2.06. The firm has a fifty day moving average of $2.18 and a 200-day moving average of $2.53.

In other 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, with a total value of $32,850.00. Following the acquisition, the director now directly owns 213,750 shares of the company’s stock, valued at $468,112.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 7.50% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. lifted its position in AcelRx Pharmaceuticals by 149.8% during the 2nd quarter. BlackRock Inc. now owns 6,047,743 shares of the specialty pharmaceutical company’s stock worth $15,301,000 after buying an additional 3,626,486 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 during the last quarter. D. E. Shaw & Co. Inc. grew its position in shares of AcelRx Pharmaceuticals by 199.8% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 859,971 shares of the specialty pharmaceutical company’s stock worth $2,175,000 after purchasing an additional 573,139 shares in the last quarter. Northern Trust Corp grew its position in shares of AcelRx Pharmaceuticals by 122.4% during the 2nd quarter. Northern Trust Corp now owns 290,252 shares of the specialty pharmaceutical company’s stock worth $734,000 after purchasing an additional 159,744 shares in the last quarter. Finally, Wells Fargo & Company MN grew its position in shares of AcelRx Pharmaceuticals by 15.4% during the 2nd quarter. Wells Fargo & Company MN now owns 254,709 shares of the specialty pharmaceutical company’s stock worth $644,000 after purchasing an additional 33,910 shares in the last quarter. 21.41% of the stock is currently 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.

Further Reading: What is the return on assets (ROA) ratio?

Earnings History and Estimates for AcelRx Pharmaceuticals (NASDAQ:ACRX)

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