AcelRx Pharmaceuticals (ACRX) closed at $1.91 in the latest trading session, marking a -0.78% move from the prior day. This move lagged the S&P 500's daily gain of 0.7%. At the same time, the Dow added 0.29%, and the tech-heavy Nasdaq gained 1.04%.
Heading into today, shares of the drugmaker had lost 16.88% over the past month, lagging the Medical sector's gain of 2.27% and the S&P 500's gain of 4.38% in that time.
ACRX will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of -$0.22, down 22.22% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $1.23 million, up 101.64% from the prior-year quarter.
Any recent changes to analyst estimates for ACRX should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. ACRX currently has a Zacks Rank of #3 (Hold).
The Medical - Drugs industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 84, which puts it in the top 33% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow ACRX in the coming trading sessions, be sure to utilize Zacks.com.
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AcelRx Pharmaceuticals, Inc. (ACRX) : Free Stock Analysis Report
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