Apricus Biosciences Inc. (APRI) Upgraded to “Hold” at Zacks Investment Research

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

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 0.326 on Tuesday. The firm’s market capitalization is $21.63 million. Apricus Biosciences has a 1-year low of $0.28 and a 1-year high of $1.55. The company’s 50-day moving average price is $0.35 and its 200-day moving average price is $0.40.

Apricus Biosciences (NASDAQ:APRI) last released its quarterly earnings results on Thursday, August 4th. The company reported ($0.05) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.08) by $0.03. During the same period in the previous year, the company posted ($0.10) EPS. Equities research analysts expect that Apricus Biosciences will post ($0.17) earnings per share for the current fiscal year.

A hedge fund recently raised its stake in Apricus Biosciences stock. Healthcare Value Capital LLC increased its position in shares of Apricus Biosciences Inc. (NASDAQ:APRI) by 83.3% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 440,000 shares of the company’s stock after buying an additional 200,000 shares during the period. Apricus Biosciences accounts for 0.4% of Healthcare Value Capital LLC’s 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 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.

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