The Zacks Investment Research lowers the Stock rating of Apricus Biosciences Inc. (APRI)

The Zacks Investment Research lowers the Stock rating of Apricus Biosciences Inc. (APRI)

Zacks Investment Research lowered 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) opened at 0.325 on Wednesday. Apricus Biosciences has a one year low of $0.28 and a one year high of $1.58. The firm’s market capitalization is $21.56 million. The firm has a 50 day moving average of $0.35 and a 200 day moving average of $0.41.

Apricus Biosciences (NASDAQ:APRI) last issued its earnings results on Thursday, August 4th. The company reported ($0.05) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.08) by $0.03. During the same quarter last year, the company posted ($0.10) earnings per share. Equities analysts forecast that Apricus Biosciences will post ($0.17) EPS for the current year.

A hedge fund recently raised its stake in Apricus Biosciences stock. Healthcare Value Capital LLC raised its position in shares of Apricus Biosciences Inc. (NASDAQ:APRI) by 83.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 440,000 shares of the company’s stock after buying an additional 200,000 shares during the period. Apricus Biosciences comprises approximately 0.4% of Healthcare Value Capital LLC’s investment portfolio, making the stock its 20th largest position. Healthcare Value Capital LLC owned approximately 0.71% of Apricus Biosciences worth $256,000 as of its most recent filing with the SEC. Hedge funds and other institutional investors 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.

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