Goldman Sachs Group Inc. purchased a new position in shares of AcelRx Pharmaceuticals, Inc. (NASDAQ:ACRX) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 246,611 shares of the specialty pharmaceutical company’s stock, valued at approximately $530,000. Goldman Sachs Group Inc. owned about 0.54% of AcelRx Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently modified their holdings of the company. Virtu KCG Holdings LLC lifted its position 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 purchasing an additional 101,742 shares during the last quarter. LMR Partners LLP acquired a new stake in AcelRx Pharmaceuticals during the second quarter worth about $319,000. WealthTrust Axiom LLC raised its stake in 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 acquiring an additional 70,000 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in 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 acquiring an additional 6,942 shares during the period. 23.09% of the stock is currently owned by institutional investors and hedge funds.
Shares of AcelRx Pharmaceuticals, Inc. (NASDAQ:ACRX) opened at $1.97 on Monday. AcelRx Pharmaceuticals, Inc. has a 12 month low of $1.55 and a 12 month high of $5.75. The company has a current ratio of 4.78, a quick ratio of 4.71 and a debt-to-equity ratio of -0.43.
ACRX has been the topic of several research reports. Royal Bank Of Canada set a $6.00 price objective on shares of AcelRx Pharmaceuticals and gave the stock a “buy” rating in a research note on Friday, August 25th. ValuEngine lowered shares of AcelRx Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Friday, September 15th. HC Wainwright reiterated a “buy” rating and set a $10.00 price objective on shares of AcelRx Pharmaceuticals in a research note on Tuesday, October 3rd. Piper Jaffray Companies reiterated a “hold” rating and set a $2.00 price objective on shares of AcelRx Pharmaceuticals in a research note on Friday, October 13th. Finally, Roth Capital set a $13.00 price objective on shares of AcelRx Pharmaceuticals and gave the stock a “buy” rating in a research note on Wednesday, August 2nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $6.83.
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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 that occurred on Monday, October 2nd. The shares were sold at an average price of $5.29, for a total value of $53,751.69. Following the sale, the insider now owns 16,379 shares in the company, valued at $86,644.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Pamela P. Palmer purchased 10,000 shares of the company’s stock in a transaction on Tuesday, August 22nd. The stock was purchased at an average price of $2.95 per share, for a total transaction of $29,500.00. The disclosure for this purchase can be found here. Insiders acquired 37,000 shares of company stock worth $112,280 in the last 90 days. 28.10% of the stock is owned by company insiders.
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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