Zacks Investment Research downgraded shares of Apricus Biosciences Inc. (NASDAQ:APRI) from a hold rating to a sell rating in a research report report published on Wednesday morning.

According to Zacks, “Apricus Bio operates in the pharmaceutical industry and focuses on research and development in the area of drug delivery. Its proprietary drug delivery technology is called NexACT ┬«. Backed by revenue generating CRO business, Bio-Quant, Inc. and its NexMed USA subsidiary, Apricus Bio has leveraged the flexibility of its proven NexACT┬« drug delivery technology to enable multi-route administration of new and improved compounds across numerous therapeutic classes. The Company is seeking to monetize its existing product pipeline, including compounds from pre-clinical through Phase 3, currently focused on dermatology, sexual dysfunction and cancer. Apricus Bio was formerly known as NexMed, Inc and is headquartered in San Diago, California. “

Apricus Biosciences (NASDAQ:APRI) traded up 1.5454% during trading on Wednesday, hitting $0.3351. 79,416 shares of the stock traded hands. The firm’s market cap is $22.23 million. The firm has a 50-day moving average price of $0.36 and a 200 day moving average price of $0.41. Apricus Biosciences has a 12 month low of $0.28 and a 12 month high of $1.64.

Apricus Biosciences (NASDAQ:APRI) last issued its earnings results on Thursday, August 4th. The company reported ($0.05) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.08) by $0.03. During the same quarter in the prior year, the company earned ($0.10) earnings per share. On average, equities analysts forecast that Apricus Biosciences will post ($0.17) EPS for the current fiscal year.

A hedge fund recently raised its stake in Apricus Biosciences stock. Vanguard Group Inc. boosted its stake in shares of Apricus Biosciences Inc. (NASDAQ:APRI) by 0.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,511,841 shares of the company’s stock after buying an additional 9,786 shares during the period. Vanguard Group Inc. owned 2.44% of Apricus Biosciences worth $604,000 as of its most recent SEC filing. Institutional investors and hedge funds own 23.83% of the company’s stock.

About Apricus Biosciences

Apricus Biosciences, Inc is a pharmaceutical company, which develops pharmaceutical products. The Company primarily focuses on the development and commercialization of products and product candidates in the areas of urology and rheumatology. The Company’s drug delivery technology is a permeation enhancer called NexACT.

5 Day Chart for NASDAQ:APRI

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