AcelRx Pharmaceuticals (NASDAQ:ACRX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday, December 27th. The firm currently has a $2.25 target price on the specialty pharmaceutical company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 9.76% from the stock’s current price.
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. “
Several other research firms have also recently weighed in on ACRX. HC Wainwright restated a “buy” rating and set a $10.00 price target on shares of AcelRx Pharmaceuticals in a report on Tuesday, October 3rd. Roth Capital set a $8.00 target price on shares of AcelRx Pharmaceuticals and gave the company a “buy” rating in a research note on Thursday, October 12th. ValuEngine upgraded shares of AcelRx Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Tuesday, September 26th. Royal Bank of Canada dropped their target price on shares of AcelRx Pharmaceuticals from $6.00 to $5.00 and set an “outperform” rating on the stock in a research note on Friday, October 13th. Finally, Jefferies Group cut shares of AcelRx Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, October 13th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $6.21.
AcelRx Pharmaceuticals (NASDAQ:ACRX) traded up $0.02 during trading on Wednesday, reaching $2.05. 159,591 shares of the company traded hands, compared to its average volume of 394,415. AcelRx Pharmaceuticals has a 1-year low of $1.55 and a 1-year high of $5.75. The stock has a market capitalization of $103.19, a PE ratio of -1.83 and a beta of 2.96. The company has a current ratio of 4.78, a quick ratio of 4.71 and a debt-to-equity ratio of -0.43.
AcelRx Pharmaceuticals (NASDAQ:ACRX) last released its quarterly earnings results on Thursday, November 9th. The specialty pharmaceutical company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.02). equities analysts predict that AcelRx Pharmaceuticals will post -1.06 EPS for the current fiscal year.
In related news, Director Mark G. Edwards bought 30,000 shares of the company’s stock in a transaction on Tuesday, November 14th. The shares were purchased at an average cost of $1.90 per share, for a total transaction of $57,000.00. Following the completion of the purchase, the director now directly owns 150,000 shares in the company, valued at $285,000. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 28.10% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Geller Family Office Services LLC bought a new stake in shares of AcelRx Pharmaceuticals in the third quarter valued at approximately $460,000. Perennial Advisors LLC bought a new stake in shares of AcelRx Pharmaceuticals in the third quarter valued at approximately $138,000. Goldman Sachs Group Inc. bought a new stake in shares of AcelRx Pharmaceuticals in the second quarter valued at approximately $530,000. Finally, Virtu KCG Holdings LLC raised its position in shares of AcelRx Pharmaceuticals by 600.9% in the second quarter. Virtu KCG Holdings LLC now owns 118,675 shares of the specialty pharmaceutical company’s stock valued at $255,000 after purchasing an additional 101,742 shares during the period. 13.70% of the stock is currently owned by institutional investors.
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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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