$5.37 Million in Sales Expected for Alliqua BioMedical, Inc. (ALQA) This Quarter
Wall Street analysts expect that Alliqua BioMedical, Inc. (NASDAQ:ALQA) will post sales of $5.37 million for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Alliqua BioMedical’s earnings, with estimates ranging from $5.30 million to $5.45 million. Alliqua BioMedical reported sales of $4.87 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 10.3%. The business is expected to issue its next earnings results on Friday, November 3rd.
According to Zacks, analysts expect that Alliqua BioMedical will report full year sales of $5.37 million for the current financial year, with estimates ranging from $20.90 million to $21.21 million. For the next financial year, analysts expect that the company will report sales of $24.52 million per share, with estimates ranging from $22.90 million to $26.35 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Alliqua BioMedical.
Alliqua BioMedical (NASDAQ:ALQA) last issued its quarterly earnings results on Thursday, August 10th. The company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.05. Alliqua BioMedical had a negative net margin of 185.30% and a negative return on equity of 107.24%. The company had revenue of $5.52 million during the quarter, compared to analysts’ expectations of $5.01 million. During the same quarter in the previous year, the company earned ($0.22) EPS. Alliqua BioMedical’s revenue was up 23.5% on a year-over-year basis.
A number of research analysts recently issued reports on ALQA shares. HC Wainwright set a $2.00 price objective on shares of Alliqua BioMedical and gave the company a “buy” rating in a report on Thursday, May 11th. ValuEngine lowered shares of Alliqua BioMedical from a “sell” rating to a “strong sell” rating in a report on Friday, June 2nd. Finally, Zacks Investment Research upgraded shares of Alliqua BioMedical from a “hold” rating to a “buy” rating and set a $0.50 price objective for the company in a report on Tuesday, August 15th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $1.31.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC raised its position in shares of Alliqua BioMedical by 23.2% in the fourth quarter. Renaissance Technologies LLC now owns 410,400 shares of the company’s stock worth $242,000 after buying an additional 77,400 shares during the period. KCG Holdings Inc. raised its position in Alliqua BioMedical by 777.7% in the first quarter. KCG Holdings Inc. now owns 525,077 shares of the company’s stock valued at $265,000 after buying an additional 465,256 shares during the last quarter. Sabby Management LLC raised its position in Alliqua BioMedical by 93.7% in the first quarter. Sabby Management LLC now owns 2,131,050 shares of the company’s stock valued at $1,076,000 after buying an additional 1,030,652 shares during the last quarter. Finally, Perceptive Advisors LLC raised its position in Alliqua BioMedical by 120.3% in the first quarter. Perceptive Advisors LLC now owns 4,233,951 shares of the company’s stock valued at $2,136,000 after buying an additional 2,312,000 shares during the last quarter. Institutional investors and hedge funds own 21.68% of the company’s stock.
Shares of Alliqua BioMedical (NASDAQ ALQA) opened at 0.3302 on Friday. The stock’s 50 day moving average is $0.33 and its 200 day moving average is $0.42. Alliqua BioMedical has a 12 month low of $0.23 and a 12 month high of $1.04. The firm’s market cap is $16.54 million.
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About Alliqua BioMedical
Alliqua BioMedical, Inc is a provider of advanced wound care solutions. The Company’s businesses include advanced wound care and contract manufacturing. The Company operates through its subsidiaries, such as AquaMed Technologies, Inc and Choice Therapeutics, Inc The Company is engaged in developing a suite of advanced wound care solutions that will enable surgeons, clinicians and wound care practitioners to address the challenges in chronic and acute wounds.
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