AcelRx Pharmaceuticals (NASDAQ:ACRX) Rating Increased to Buy at Zacks Investment Research

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.

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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.

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