AcelRx Pharmaceuticals (NASDAQ:ACRX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Monday.
According to Zacks, “AcelRx Pharmaceuticals, Inc., is a specialty pharmaceutical company focused on the development and commercialization of therapies for the treatment of pain. The Company product candidates comprises: ARX-01 or the Sufentanil NanoTab PCA System; ARX-02 or the Sufentanil NanoTab BTP Management System; and ARX-03 or the Sufentanil/Triazolam NanoTab which are in their development stage. Its product ARX-01 is focused on acute post-operative pain, ARX-02 is focused on the treatment of cancer breakthrough pain and ARX-03 is focused on providing mild sedation, anxiety reduction, and pain relief to patients undergoing painful procedures in a physician’s office. AcelRx Pharmaceuticals, Inc. is headquartered in Redwood City, California. “
ACRX has been the subject of a number of other research reports. HC Wainwright reaffirmed a “buy” rating and issued a $5.00 target price on shares of AcelRx Pharmaceuticals in a research report on Friday, October 27th. ValuEngine raised shares of AcelRx Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Tuesday, September 26th. Royal Bank of Canada cut their target price on shares of AcelRx Pharmaceuticals from $6.00 to $5.00 and set an “outperform” rating for the company in a research report on Friday, October 13th. Jefferies Group downgraded shares of AcelRx Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday, October 13th. Finally, Roth Capital set a $8.00 target price on shares of AcelRx Pharmaceuticals and gave the stock a “buy” rating in a research report on Thursday, October 12th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $6.21.
AcelRx Pharmaceuticals (NASDAQ:ACRX) traded down $0.08 during trading hours on Monday, reaching $2.07. 508,000 shares of the company’s stock were exchanged, compared to its average volume of 450,270. The company has a debt-to-equity ratio of -0.43, a quick ratio of 4.71 and a current ratio of 4.78. AcelRx Pharmaceuticals has a fifty-two week low of $1.55 and a fifty-two week high of $5.75. The company has a market cap of $104.45, a P/E ratio of -1.85 and a beta of 2.96.
AcelRx Pharmaceuticals (NASDAQ:ACRX) last posted its earnings results on Thursday, November 9th. The specialty pharmaceutical company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.02). equities analysts predict that AcelRx Pharmaceuticals will post -1.06 earnings per share for the current year.
In other AcelRx Pharmaceuticals news, Director Mark G. Edwards acquired 30,000 shares of the business’s stock in a transaction dated Tuesday, November 14th. The stock was purchased at an average price of $1.90 per share, with a total value of $57,000.00. Following the transaction, the director now directly owns 150,000 shares in the company, valued at approximately $285,000. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 28.10% of the company’s stock.
Several hedge funds have recently modified their holdings of ACRX. Perennial Advisors LLC bought a new stake in shares of AcelRx Pharmaceuticals during the 3rd quarter valued at $138,000. Virtu KCG Holdings LLC grew its position in shares of AcelRx Pharmaceuticals by 600.9% during the 2nd quarter. Virtu KCG Holdings LLC now owns 118,675 shares of the specialty pharmaceutical company’s stock valued at $255,000 after acquiring an additional 101,742 shares during the period. Geller Family Office Services LLC bought a new stake in shares of AcelRx Pharmaceuticals during the 3rd quarter valued at $460,000. Finally, Goldman Sachs Group Inc. bought a new stake in shares of AcelRx Pharmaceuticals during the 2nd quarter valued at $530,000. 13.70% of the stock is owned by hedge funds and other 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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