AcelRx Pharmaceuticals, Inc. (ACRX) Receives Buy Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of AcelRx Pharmaceuticals, Inc. (NASDAQ:ACRX) in a report published on Friday, October 27th. The firm currently has a $5.00 price target on the specialty pharmaceutical company’s stock.

Several other analysts have also recently issued reports on ACRX. Jefferies Group LLC reiterated a buy rating and issued a $7.00 price objective on shares of AcelRx Pharmaceuticals in a research note on Friday, July 14th. Royal Bank Of Canada set a $6.00 price objective on AcelRx Pharmaceuticals and gave the company a buy rating in a research note on Friday, August 25th. Roth Capital reiterated a buy rating and issued a $12.50 price objective on shares of AcelRx Pharmaceuticals in a research note on Thursday, August 10th. Stifel Nicolaus upgraded AcelRx Pharmaceuticals from a hold rating to a buy rating in a research note on Wednesday, August 9th. Finally, Cowen and Company reiterated a hold rating on shares of AcelRx Pharmaceuticals in a research note on Tuesday, August 1st. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company’s stock. AcelRx Pharmaceuticals currently has a consensus rating of Hold and an average price target of $6.83.

AcelRx Pharmaceuticals (NASDAQ:ACRX) opened at $1.98 on Friday. The company has a debt-to-equity ratio of -0.43, a current ratio of 4.78 and a quick ratio of 4.71. AcelRx Pharmaceuticals has a 52 week low of $1.55 and a 52 week high of $5.75.

TRADEMARK VIOLATION WARNING: This report was originally reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this report on another website, it was copied illegally and republished in violation of United States & international trademark & copyright legislation. The original version of this report can be viewed at https://ledgergazette.com/2017/11/13/acelrx-pharmaceuticals-acrx-buy-rating-reaffirmed-at-hc-wainwright-2.html.

In other AcelRx Pharmaceuticals news, insider Lawrence G. Hamel sold 10,161 shares of the firm’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $5.29, for a total transaction of $53,751.69. Following the transaction, the insider now owns 16,379 shares of the company’s stock, valued at $86,644.91. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Pamela P. Palmer acquired 10,000 shares of the company’s stock in a transaction on Tuesday, August 22nd. The shares were purchased at an average cost of $2.95 per share, for a total transaction of $29,500.00. The disclosure for this purchase can be found here. Insiders purchased 37,000 shares of company stock worth $112,280 in the last three months. 28.10% of the stock is currently owned by corporate insiders.

Several hedge funds have recently modified their holdings of ACRX. Perennial Advisors LLC purchased a new position in shares of AcelRx Pharmaceuticals during the third quarter worth about $138,000. Virtu KCG Holdings LLC boosted its stake in shares of AcelRx Pharmaceuticals by 600.9% during the second quarter. Virtu KCG Holdings LLC now owns 118,675 shares of the specialty pharmaceutical company’s stock worth $255,000 after buying an additional 101,742 shares during the period. LMR Partners LLP acquired a new stake in shares of AcelRx Pharmaceuticals during the second quarter worth about $319,000. Bank of New York Mellon Corp boosted its stake in shares of AcelRx Pharmaceuticals by 6.6% during 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 during the period. Finally, WealthTrust Axiom LLC boosted its stake in shares of AcelRx Pharmaceuticals by 50.0% during the second quarter. WealthTrust Axiom LLC now owns 210,000 shares of the specialty pharmaceutical company’s stock worth $451,000 after buying an additional 70,000 shares during the period. 23.09% of the stock is currently owned by institutional investors.

AcelRx Pharmaceuticals Company Profile

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.

Analyst Recommendations for AcelRx Pharmaceuticals (NASDAQ:ACRX)

Receive News & Ratings for AcelRx Pharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AcelRx Pharmaceuticals Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply