Roth Capital Reiterates Buy On Apricus Biosciences Following 3Q14 Results


Roth Capital analyst Scott Henry reiterated a Buy rating on Apricus Biosciences (NASDAQ:APRI) with a $4 price target, following the company’s third quarter results, which were within expectations.

Henry noted, “APRI reported revenues of $1.9 million (versus our target of $1.2 million). The upside was from milestones ($500K) and manufacturing revenues ($398K). There were no Vitaros royalties in the quarter. The higher revenue upside reduced the EPS loss by ~$0.01. Lower spending further reduced the EPS loss by another ~$0.01 and the reported EPS loss of $0.08 was modestly smaller than our targeted loss of $0.10. Fundamentally, we viewed the quarter in-line. The company has cash of $16.1 million, which combined with funding options, should provide cash “through 2015″.”

The analyst added, “The Vitaros launch is progressing in Europe with potential revenue inflection points in 2015. The pipeline could also provide 2015 catalysts with clinical data targeted for both RayVa and Fispemifene.”

According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Scott Henry has a total average return of 9.1% and a 44.8% success rate. Henry has a -29.5% average return when recommending APRI, and is ranked #558 out of 3377 analysts.

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