AcelRx Pharmaceuticals, Inc. (NASDAQ:ACRX) was upgraded by analysts at Stifel Nicolaus from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, August 9th, The Fly reports.
A number of other analysts have also weighed in on ACRX. Zacks Investment Research raised shares of AcelRx Pharmaceuticals from a “hold” rating to a “buy” rating and set a $3.00 price objective on the stock in a research report on Wednesday, May 3rd. Jefferies Group LLC reissued a “buy” rating and issued a $7.00 price objective on shares of AcelRx Pharmaceuticals in a research report on Friday, July 14th. ValuEngine upgraded shares of AcelRx Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Monday, July 24th. Piper Jaffray Companies set a $3.00 target price on shares of AcelRx Pharmaceuticals and gave the stock a “hold” rating in a research note on Tuesday, July 25th. Finally, Cowen and Company restated a “hold” rating on shares of AcelRx Pharmaceuticals in a research note on Tuesday, August 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $7.50.
Shares of AcelRx Pharmaceuticals (ACRX) opened at 2.95 on Wednesday. The company’s market capitalization is $133.87 million. The company has a 50 day moving average price of $2.89 and a 200 day moving average price of $2.79. AcelRx Pharmaceuticals has a 1-year low of $1.95 and a 1-year high of $4.08.
AcelRx Pharmaceuticals (NASDAQ:ACRX) last announced its earnings results on Tuesday, August 1st. The specialty pharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by $0.01. AcelRx Pharmaceuticals had a negative net margin of 319.19% and a negative return on equity of 478.66%. The business had revenue of $2.66 million for the quarter, compared to analysts’ expectations of $2.63 million. Equities analysts predict that AcelRx Pharmaceuticals will post ($1.13) EPS for the current fiscal year.
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In other AcelRx Pharmaceuticals news, major shareholder Life Sciences Maste Perceptive sold 875,000 shares of the firm’s stock in a transaction on Monday, June 19th. The shares were sold at an average price of $2.40, for a total value of $2,100,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 28.10% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of ACRX. Teachers Advisors LLC boosted its position in AcelRx Pharmaceuticals by 14.6% in the fourth quarter. Teachers Advisors LLC now owns 66,715 shares of the specialty pharmaceutical company’s stock worth $173,000 after buying an additional 8,475 shares in the last quarter. Acadian Asset Management LLC boosted its position in AcelRx Pharmaceuticals by 326.1% in the first quarter. Acadian Asset Management LLC now owns 41,927 shares of the specialty pharmaceutical company’s stock worth $132,000 after buying an additional 32,087 shares in the last quarter. ING Groep NV boosted its position in AcelRx Pharmaceuticals by 200.0% in the first quarter. ING Groep NV now owns 39,000 shares of the specialty pharmaceutical company’s stock worth $123,000 after buying an additional 26,000 shares in the last quarter. Bank of New York Mellon Corp boosted its position in AcelRx Pharmaceuticals by 6.6% in the first quarter. Bank of New York Mellon Corp now owns 112,682 shares of the specialty pharmaceutical company’s stock worth $355,000 after buying an additional 6,942 shares in the last quarter. Finally, WealthTrust Axiom LLC boosted its position in shares of AcelRx Pharmaceuticals by 50.0% in the second quarter. WealthTrust Axiom LLC now owns 210,000 shares of the specialty pharmaceutical company’s stock valued at $451,000 after buying an additional 70,000 shares during the period. 30.37% of the stock is owned by institutional investors and hedge funds.
About AcelRx Pharmaceuticals
AcelRx Pharmaceuticals, Inc is a pharmaceutical company focused on the development and commercialization of therapies for the treatment of moderate-to-severe acute pain. The Company operates through the segment, which includes development and commercialization of product candidates for the treatment of pain.
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