AcelRx Pharmaceuticals, Inc. (NASDAQ:ACRX) Director Mark G. Edwards purchased 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 14th. The shares were acquired at an average cost of $1.90 per share, with a total value of $57,000.00. Following the completion of the acquisition, the director now directly owns 150,000 shares in the company, valued at $285,000. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink.
AcelRx Pharmaceuticals, Inc. (ACRX) traded up $0.03 during mid-day trading on Friday, reaching $2.08. The company had a trading volume of 687,124 shares, compared to its average volume of 1,004,681. AcelRx Pharmaceuticals, Inc. has a 12-month low of $1.55 and a 12-month high of $5.75. The company has a quick ratio of 4.71, a current ratio of 4.78 and a debt-to-equity ratio of -0.43.
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A number of equities research analysts recently weighed in on ACRX shares. ValuEngine raised AcelRx Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Monday, July 24th. Piper Jaffray Companies set a $3.00 price target on AcelRx Pharmaceuticals and gave the company a “hold” rating in a report on Tuesday, July 25th. Cowen and Company reaffirmed a “hold” rating on shares of AcelRx Pharmaceuticals in a report on Tuesday, August 1st. Roth Capital set a $13.00 price target on AcelRx Pharmaceuticals and gave the company a “buy” rating in a report on Wednesday, August 2nd. Finally, Zacks Investment Research raised AcelRx Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday, August 4th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $6.83.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Geller Family Office Services LLC acquired a new stake in shares of AcelRx Pharmaceuticals in the 3rd quarter valued at $460,000. Perennial Advisors LLC acquired a new stake in shares of AcelRx Pharmaceuticals in the 3rd quarter valued at $138,000. Goldman Sachs Group Inc. acquired a new stake in shares of AcelRx Pharmaceuticals in the 2nd quarter valued at $530,000. Virtu KCG Holdings LLC increased its stake in shares of AcelRx Pharmaceuticals by 600.9% in the 2nd quarter. Virtu KCG Holdings LLC now owns 118,675 shares of the specialty pharmaceutical company’s stock valued at $255,000 after buying an additional 101,742 shares during the period. Finally, LMR Partners LLP acquired a new stake in shares of AcelRx Pharmaceuticals in the 2nd quarter valued at $319,000. 23.09% of the stock is owned by institutional investors.
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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