Zacks Investment Research Upgrades Apricus Biosciences Inc. (APRI) to “Buy”
Apricus Biosciences Inc. (NASDAQ:APRI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Monday. The firm presently has a $1.75 target price on the stock. Zacks Investment Research’s price target indicates a potential upside of 12.18% from the stock’s previous close.
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. “
Shares of Apricus Biosciences (NASDAQ:APRI) opened at 1.56 on Monday. Apricus Biosciences has a 52 week low of $1.48 and a 52 week high of $15.50. The company’s market capitalization is $12.06 million. The stock has a 50 day moving average price of $1.32 and a 200-day moving average price of $0.62.
Apricus Biosciences (NASDAQ:APRI) last released its earnings results on Tuesday, November 8th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.60) by $0.41. The business earned $4.30 million during the quarter, compared to the consensus estimate of $1.91 million. During the same quarter in the prior year, the firm earned ($1.00) EPS. Equities research analysts expect that Apricus Biosciences will post ($1.70) EPS for the current year.
A hedge fund recently raised its stake in Apricus Biosciences stock. Vanguard Group Inc. raised its position in shares of Apricus Biosciences Inc. (NASDAQ:APRI) by 0.7% during the second quarter, according to its most recent filing with the SEC. The fund owned 1,511,841 shares of the company’s stock after buying an additional 9,786 shares during the period. Vanguard Group Inc. owned about 2.44% of Apricus Biosciences worth $604,000 at the end of the most recent reporting period.
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.
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