AcelRx Pharmaceuticals (NASDAQ:ACRX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday, December 27th. The firm presently has a $2.25 target price on the specialty pharmaceutical company’s stock. Zacks Investment Research‘s price target indicates a potential upside of 4.65% from the company’s previous close.
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 equities analysts have also recently weighed in on the stock. HC Wainwright reiterated a “buy” rating and set a $5.00 price objective on shares of AcelRx Pharmaceuticals in a research report on Friday, October 27th. Piper Jaffray Companies reiterated a “hold” rating and set a $2.00 price objective on shares of AcelRx Pharmaceuticals in a research report on Friday, October 13th. Royal Bank of Canada lowered their price objective on shares of AcelRx Pharmaceuticals from $6.00 to $5.00 and set an “outperform” rating on the stock in a research report on Friday, October 13th. Jefferies Group cut shares of AcelRx Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday, October 13th. Finally, ValuEngine lowered shares of AcelRx Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Thursday, October 12th. One 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’s stock. The stock has a consensus rating of “Hold” and an average target price of $6.18.
AcelRx Pharmaceuticals (ACRX) opened at $2.15 on Wednesday. AcelRx Pharmaceuticals has a 12-month low of $1.55 and a 12-month high of $5.75. The company has a debt-to-equity ratio of -0.43, a current ratio of 4.78 and a quick ratio of 4.71. The stock has a market cap of $108.23, a P/E ratio of -1.92 and a beta of 2.96.
In other AcelRx Pharmaceuticals news, Director Mark G. Edwards acquired 30,000 shares of AcelRx Pharmaceuticals stock in a transaction that occurred on Tuesday, November 14th. The stock was acquired at an average price of $1.90 per share, with a total value of $57,000.00. Following the purchase, the director now owns 150,000 shares in the company, valued at $285,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 28.10% of the stock is currently owned by insiders.
Several hedge funds have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. acquired a new stake in shares of AcelRx Pharmaceuticals in the 2nd quarter valued at $530,000. Virtu KCG Holdings LLC lifted its stake in shares of 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 purchasing an additional 101,742 shares during the last quarter. Geller Family Office Services LLC acquired a new stake in shares of AcelRx Pharmaceuticals in the 3rd quarter valued at $460,000. Finally, Perennial Advisors LLC acquired a new stake in shares of AcelRx Pharmaceuticals in the 3rd quarter valued at $138,000. 13.70% of the stock is owned by institutional investors and hedge funds.
COPYRIGHT VIOLATION WARNING: “AcelRx Pharmaceuticals (NASDAQ:ACRX) Rating Increased to Buy at Zacks Investment Research” was first reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this story on another site, it was illegally copied and reposted in violation of United States & international copyright and trademark laws. The original version of this story can be accessed at https://www.dispatchtribunal.com/2018/01/14/acelrx-pharmaceuticals-acrx-lifted-to-buy-at-zacks-investment-research.html.
About AcelRx Pharmaceuticals
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.
Get a free copy of the Zacks research report on AcelRx Pharmaceuticals (ACRX)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for AcelRx Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AcelRx Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.