Zacks Investment Research downgraded shares of Apricus Biosciences (NASDAQ:APRI) from a hold rating to a sell rating in a research note released on Thursday 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. “
A number of other brokerages have also weighed in on APRI. HC Wainwright lowered shares of Apricus Biosciences from a buy rating to a neutral rating and set a $1.00 price target on the stock. in a research note on Friday, February 16th. ValuEngine raised shares of Apricus Biosciences from a strong sell rating to a sell rating in a research note on Friday, February 2nd.
A hedge fund recently bought a new stake in Apricus Biosciences stock. Healthcare Value Capital LLC acquired a new position in Apricus Biosciences Inc (NASDAQ:APRI) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 100,000 shares of the company’s stock, valued at approximately $184,000. Apricus Biosciences makes up about 0.6% of Healthcare Value Capital LLC’s investment portfolio, making the stock its 8th biggest position. Healthcare Value Capital LLC owned 0.66% of Apricus Biosciences as of its most recent SEC filing. Institutional investors and hedge funds own 24.39% 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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