Zacks Investment Research upgraded shares of AcelRx Pharmaceuticals (NASDAQ:ACRX) from a hold rating to a buy rating in a report published on Tuesday. The brokerage currently has $2.50 target price on the specialty pharmaceutical company’s stock.
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 several other research reports. ValuEngine lowered shares of AcelRx Pharmaceuticals from a sell rating to a strong sell rating in a research note on Thursday, October 12th. HC Wainwright reiterated a buy rating and set a $10.00 target price 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 target price on shares of AcelRx Pharmaceuticals in a research note on Friday, October 13th. 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. Finally, Jefferies Group lowered 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 issued a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $6.21.
AcelRx Pharmaceuticals (ACRX) traded down $0.02 on Tuesday, reaching $2.03. 195,000 shares of the company traded hands, compared to its average volume of 413,950. The firm has a market capitalization of $101.94, a PE ratio of -1.81 and a beta of 2.96. The company has a quick ratio of 4.71, a current ratio of 4.78 and a debt-to-equity ratio of -0.43. AcelRx Pharmaceuticals has a 1 year low of $1.55 and a 1 year high of $5.75.
AcelRx Pharmaceuticals (NASDAQ:ACRX) last posted its quarterly earnings results on Thursday, November 9th. The specialty pharmaceutical company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.02). sell-side 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 bought 30,000 shares of the stock in a transaction on Tuesday, November 14th. The stock was purchased at an average price 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 28.10% of the stock is owned by insiders.
Several institutional investors have recently added to or reduced their stakes in the company. Perennial Advisors LLC bought a new position in shares of AcelRx Pharmaceuticals during the third quarter worth about $138,000. Geller Family Office Services LLC bought a new position in shares of AcelRx Pharmaceuticals during the third quarter worth about $460,000. Virtu KCG Holdings LLC grew 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 acquiring an additional 101,742 shares during the last quarter. Finally, Goldman Sachs Group Inc. bought a new position in shares of AcelRx Pharmaceuticals during the second quarter worth about $530,000. Institutional investors and hedge funds own 13.70% of the company’s stock.
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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