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.
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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.
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