ValuEngine downgraded shares of AcelRx Pharmaceuticals, Inc. (NASDAQ:ACRX) from a sell rating to a strong sell rating in a report released on Friday morning.
A number of other research firms also recently weighed in on ACRX. Piper Jaffray Companies set a $3.00 price target on shares of AcelRx Pharmaceuticals and gave the stock a hold rating in a research report on Tuesday, July 25th. Roth Capital set a $13.00 price target on shares of AcelRx Pharmaceuticals and gave the stock a buy rating in a research report on Wednesday, August 2nd. Cowen and Company reissued a hold rating on shares of AcelRx Pharmaceuticals in a research report on Tuesday, August 1st. Royal Bank Of Canada set a $6.00 price target on shares of AcelRx Pharmaceuticals and gave the stock a buy rating in a research report on Friday, August 25th. Finally, Stifel Nicolaus raised shares of AcelRx Pharmaceuticals from a hold rating to a buy rating in a research report on Wednesday, August 9th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $7.50.
Shares of AcelRx Pharmaceuticals (NASDAQ ACRX) traded up 3.33% during mid-day trading on Friday, hitting $3.10. 1,116,705 shares of the stock traded hands. AcelRx Pharmaceuticals has a one year low of $1.95 and a one year high of $4.08. The stock has a 50-day moving average of $3.12 and a 200 day moving average of $2.81. The stock’s market cap is $140.68 million.
AcelRx Pharmaceuticals (NASDAQ:ACRX) last released its quarterly earnings results on Tuesday, August 1st. The specialty pharmaceutical company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.01). AcelRx Pharmaceuticals had a negative return on equity of 478.66% and a negative net margin of 319.19%. The company had revenue of $2.66 million for the quarter, compared to analyst estimates of $2.63 million. Equities analysts predict that AcelRx Pharmaceuticals will post ($1.13) EPS for the current fiscal year.
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In other AcelRx Pharmaceuticals news, CEO Vincent J. Angotti acquired 15,000 shares of the firm’s stock in a transaction on Thursday, August 24th. The stock was purchased at an average price of $3.00 per share, with a total value of $45,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 15,000 shares in the company, valued at approximately $45,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Life Sciences Maste Perceptive sold 875,000 shares of AcelRx Pharmaceuticals stock in a transaction on Monday, June 19th. The stock was sold at an average price of $2.40, for a total transaction of $2,100,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders acquired 37,000 shares of company stock valued at $112,280. 28.10% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in ACRX. Acadian Asset Management LLC boosted its holdings in AcelRx Pharmaceuticals by 326.1% in the first quarter. Acadian Asset Management LLC now owns 41,927 shares of the specialty pharmaceutical company’s stock worth $132,000 after purchasing an additional 32,087 shares during the period. Teachers Advisors LLC boosted its holdings in AcelRx Pharmaceuticals by 14.6% in the fourth quarter. Teachers Advisors LLC now owns 66,715 shares of the specialty pharmaceutical company’s stock worth $173,000 after purchasing an additional 8,475 shares during the period. Virtu KCG Holdings LLC boosted its holdings in 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 worth $255,000 after purchasing an additional 101,742 shares during the period. LMR Partners LLP acquired a new position in AcelRx Pharmaceuticals in the second quarter worth $319,000. Finally, Bank of New York Mellon Corp boosted its holdings in AcelRx Pharmaceuticals by 6.6% in 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 purchasing an additional 6,942 shares during the period. 23.32% of the stock is owned by hedge funds and other institutional investors.
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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