Shares of AcelRx Pharmaceuticals, Inc. (NASDAQ:ACRX) have earned an average recommendation of “Hold” from the nine brokerages that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $6.25.
ACRX has been the subject of several recent analyst reports. Jefferies Group LLC reiterated a “buy” rating and issued a $7.00 target price on shares of AcelRx Pharmaceuticals in a research note on Friday, July 14th. Royal Bank Of Canada set a $6.00 target price on shares of AcelRx Pharmaceuticals and gave the company a “buy” rating in a research note on Friday, August 25th. Roth Capital reiterated a “buy” rating and issued a $12.50 target price on shares of AcelRx Pharmaceuticals in a research note on Thursday, August 10th. Stifel Nicolaus upgraded shares of AcelRx Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Wednesday, August 9th. Finally, HC Wainwright reiterated a “buy” rating and issued a $7.00 target price on shares of AcelRx Pharmaceuticals in a research note on Friday, August 4th.
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In related news, CEO Vincent J. Angotti purchased 15,000 shares of the stock in a transaction on Thursday, August 24th. The shares were purchased at an average cost of $3.00 per share, with a total value of $45,000.00. Following the acquisition, the chief executive officer now directly owns 15,000 shares in the company, valued at $45,000. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Lawrence G. Hamel sold 10,161 shares of the stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $5.29, for a total transaction of $53,751.69. Following the completion of the transaction, the insider now directly owns 16,379 shares in the company, valued at $86,644.91. The disclosure for this sale can be found here. Over the last three months, insiders acquired 37,000 shares of company stock worth $112,280. Insiders own 28.10% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. bought a new position in AcelRx Pharmaceuticals in the 2nd quarter valued at about $530,000. Virtu KCG Holdings LLC raised its holdings in AcelRx Pharmaceuticals by 600.9% in 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. LMR Partners LLP bought a new position in AcelRx Pharmaceuticals in the 2nd quarter valued at about $319,000. WealthTrust Axiom LLC raised its holdings in AcelRx Pharmaceuticals by 50.0% in the 2nd quarter. WealthTrust Axiom LLC now owns 210,000 shares of the specialty pharmaceutical company’s stock valued at $451,000 after acquiring an additional 70,000 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in AcelRx Pharmaceuticals by 6.6% in the 1st quarter. Bank of New York Mellon Corp now owns 112,682 shares of the specialty pharmaceutical company’s stock valued at $355,000 after acquiring an additional 6,942 shares during the period. 23.32% of the stock is currently owned by hedge funds and other institutional investors.
AcelRx Pharmaceuticals (NASDAQ:ACRX) remained flat at $1.75 during trading on Wednesday. The stock had a trading volume of 1,644,846 shares. The firm has a 50-day moving average price of $3.67 and a 200 day moving average price of $2.94. AcelRx Pharmaceuticals has a 12-month low of $1.70 and a 12-month high of $5.75. The stock’s market cap is $79.42 million.
AcelRx Pharmaceuticals (NASDAQ:ACRX) last issued its earnings results on Tuesday, August 1st. The specialty pharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.28) by ($0.01). The company had revenue of $2.66 million for the quarter, compared to analyst estimates of $2.63 million. On average, equities research analysts forecast that AcelRx Pharmaceuticals will post ($1.12) earnings per share for the current year.
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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