AcelRx Pharmaceuticals Inc (NASDAQ:ACRX) shares saw strong trading volume on Thursday . 361,343 shares changed hands during mid-day trading, a decline of 58% from the previous session’s volume of 853,144 shares.The stock last traded at $3.47 and had previously closed at $3.60.
Several research analysts have weighed in on the company. Cantor Fitzgerald set a $6.00 price target on AcelRx Pharmaceuticals and gave the company a “buy” rating in a report on Monday, October 1st. Zacks Investment Research downgraded AcelRx Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, June 26th. LADENBURG THALM/SH SH reiterated a “buy” rating and issued a $10.00 price target (up from $7.00) on shares of AcelRx Pharmaceuticals in a report on Wednesday. HC Wainwright reiterated a “buy” rating on shares of AcelRx Pharmaceuticals in a report on Tuesday, August 7th. Finally, Oppenheimer assumed coverage on AcelRx Pharmaceuticals in a report on Thursday, July 12th. They issued a “hold” rating for the company. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company. AcelRx Pharmaceuticals presently has a consensus rating of “Hold” and an average price target of $5.25.
The company has a market cap of $233.31 million, a PE ratio of -3.62 and a beta of 2.04. The company has a debt-to-equity ratio of -0.15, a quick ratio of 3.96 and a current ratio of 4.01.
AcelRx Pharmaceuticals (NASDAQ:ACRX) last announced its quarterly earnings data on Thursday, August 2nd. The specialty pharmaceutical company reported ($0.20) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.19) by ($0.01). The firm had revenue of $0.82 million for the quarter, compared to the consensus estimate of $0.93 million. On average, analysts anticipate that AcelRx Pharmaceuticals Inc will post -0.83 EPS for the current year.
In related news, insider Pamela P. Palmer acquired 37,000 shares of the stock in a transaction dated Monday, August 6th. The stock was bought at an average cost of $2.75 per share, with a total value of $101,750.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Lawrence G. Hamel sold 6,953 shares of the business’s stock in a transaction on Monday, September 24th. The shares were sold at an average price of $4.50, for a total transaction of $31,288.50. Following the sale, the insider now directly owns 24,371 shares of the company’s stock, valued at $109,669.50. The disclosure for this sale can be found here. Insiders have bought a total of 57,300 shares of company stock valued at $159,552 over the last three months. Corporate insiders own 25.50% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. grew its stake in shares of AcelRx Pharmaceuticals by 2.7% during the 2nd quarter. BlackRock Inc. now owns 673,115 shares of the specialty pharmaceutical company’s stock valued at $2,271,000 after buying an additional 17,737 shares during the period. Renaissance Technologies LLC purchased a new stake in shares of AcelRx Pharmaceuticals during the 2nd quarter valued at $1,676,000. FMR LLC grew its stake in shares of AcelRx Pharmaceuticals by 1,094.6% during the 2nd quarter. FMR LLC now owns 298,644 shares of the specialty pharmaceutical company’s stock valued at $1,008,000 after buying an additional 273,644 shares during the period. Northern Trust Corp grew its stake in shares of AcelRx Pharmaceuticals by 60.8% during the 1st quarter. Northern Trust Corp now owns 91,481 shares of the specialty pharmaceutical company’s stock valued at $192,000 after buying an additional 34,584 shares during the period. Finally, Lincoln Capital Corp boosted its position in AcelRx Pharmaceuticals by 83.3% during the 3rd quarter. Lincoln Capital Corp now owns 62,775 shares of the specialty pharmaceutical company’s stock worth $242,000 after purchasing an additional 28,525 shares during the period. 8.57% of the stock is owned by institutional investors.
About AcelRx Pharmaceuticals (NASDAQ:ACRX)
AcelRx Pharmaceuticals, Inc, a specialty pharmaceutical company, focuses on the development and commercialization of therapies for the treatment of acute pain. Its lead product candidate is DSUVIA, a 30 mcg sufentanil sublingual tablet for the treatment of moderate-to-severe acute pain. The company also develops ZALVISO, a pre-programmed and patient-controlled analgesia system that allows hospital patients with moderate-to-severe acute pain to self-dose with sufentanil sublingual tablets to manage their pain.
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