Piper Jaffray Companies reaffirmed their hold rating on shares of AcelRx Pharmaceuticals Inc (NASDAQ:ACRX) in a report published on Friday morning. The brokerage currently has a $2.00 price objective on the specialty pharmaceutical company’s stock.
ACRX has been the topic of several other research reports. Cowen and Company restated 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 objective on AcelRx Pharmaceuticals and gave the stock a buy rating in a research report on Friday, August 25th. Stifel Nicolaus upgraded AcelRx Pharmaceuticals from a hold rating to a buy rating in a research report on Wednesday, August 9th. ValuEngine upgraded AcelRx Pharmaceuticals from a strong sell rating to a sell rating in a research report on Tuesday, September 26th. Finally, Zacks Investment Research upgraded AcelRx Pharmaceuticals from a sell rating to a hold rating in a research report on Friday, August 4th. One 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. AcelRx Pharmaceuticals presently has a consensus rating of Hold and an average target price of $7.67.
Shares of AcelRx Pharmaceuticals (NASDAQ:ACRX) opened at 2.125 on Friday. AcelRx Pharmaceuticals has a 1-year low of $1.95 and a 1-year high of $5.75. The firm’s market capitalization is $96.43 million. The firm’s 50 day moving average is $3.80 and its 200 day moving average is $2.97.
AcelRx Pharmaceuticals (NASDAQ:ACRX) last announced its quarterly earnings data on Tuesday, August 1st. The specialty pharmaceutical company reported ($0.29) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.28) by ($0.01). The business had revenue of $2.66 million during the quarter, compared to analysts’ expectations of $2.63 million. Analysts anticipate that AcelRx Pharmaceuticals will post ($1.13) EPS for the current fiscal year.
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In other news, CEO Vincent J. Angotti purchased 15,000 shares of the company’s stock in a transaction that occurred on Thursday, August 24th. The shares were acquired at an average cost of $3.00 per share, with a total value of $45,000.00. Following the purchase, the chief executive officer now owns 15,000 shares in the company, valued at $45,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Pamela P. Palmer purchased 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 22nd. The shares were purchased at an average cost of $2.95 per share, for a total transaction of $29,500.00. The disclosure for this purchase can be found here. Insiders bought a total of 37,000 shares of company stock worth $112,280 over the last three months. 28.10% of the stock is owned by company insiders.
A number of hedge funds have recently bought and sold shares of the stock. Goldman Sachs Group Inc. bought a new stake in AcelRx Pharmaceuticals during the 2nd quarter worth approximately $530,000. WealthTrust Axiom LLC increased its holdings in AcelRx Pharmaceuticals by 50.0% during the 2nd quarter. WealthTrust Axiom LLC now owns 210,000 shares of the specialty pharmaceutical company’s stock worth $451,000 after purchasing an additional 70,000 shares in the last quarter. LMR Partners LLP bought a new stake in AcelRx Pharmaceuticals during the 2nd quarter worth approximately $319,000. Virtu KCG Holdings LLC increased its holdings in 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 worth $255,000 after purchasing an additional 101,742 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in AcelRx Pharmaceuticals by 6.6% during the 1st 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 in the last quarter. 23.32% of the stock is currently owned by institutional investors and hedge funds.
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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