Cantor Fitzgerald set a $8.00 price objective on AcelRx Pharmaceuticals (NASDAQ:ACRX) in a report released on Monday, The Fly reports. The firm currently has a buy rating on the specialty pharmaceutical company’s stock. Cantor Fitzgerald also issued estimates for AcelRx Pharmaceuticals’ FY2019 earnings at ($0.74) EPS.
A number of other analysts have also recently weighed in on ACRX. Zacks Investment Research cut shares of AcelRx Pharmaceuticals from a buy rating to a hold rating in a research note on Tuesday, June 26th. Oppenheimer reaffirmed a hold rating on shares of AcelRx Pharmaceuticals in a research report on Friday, August 3rd. LADENBURG THALM/SH SH reaffirmed a buy rating and set a $10.00 target price (up previously from $7.00) on shares of AcelRx Pharmaceuticals in a research report on Wednesday, October 10th. Jefferies Financial Group raised shares of AcelRx Pharmaceuticals from a hold rating to a buy rating and set a $8.00 target price on the stock in a research report on Monday. Finally, HC Wainwright reaffirmed a buy rating on shares of AcelRx Pharmaceuticals in a research report on Tuesday, August 7th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $7.50.
Shares of AcelRx Pharmaceuticals stock opened at $4.15 on Monday. The company has a quick ratio of 3.96, a current ratio of 4.01 and a debt-to-equity ratio of -0.15. AcelRx Pharmaceuticals has a 1-year low of $1.55 and a 1-year high of $5.03.
AcelRx Pharmaceuticals (NASDAQ:ACRX) last issued its quarterly earnings data on Thursday, August 2nd. The specialty pharmaceutical company reported ($0.20) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.19) by ($0.01). The firm had revenue of $0.82 million for the quarter, compared to analyst estimates of $0.93 million. As a group, research analysts anticipate that AcelRx Pharmaceuticals will post -0.83 EPS for the current year.
In related news, insider Pamela P. Palmer bought 37,000 shares of the company’s stock in a transaction that occurred on Monday, August 6th. The shares were acquired at an average price of $2.75 per share, with a total value of $101,750.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Badri N. Dasu sold 28,351 shares of the business’s stock in a transaction on Monday, October 15th. The stock was sold at an average price of $5.00, for a total transaction of $141,755.00. Following the transaction, the insider now directly owns 54,061 shares in the company, valued at approximately $270,305. The disclosure for this sale can be found here. Insiders have purchased 57,300 shares of company stock worth $159,552 in the last ninety days. 25.50% of the stock is currently owned by insiders.
A number of hedge funds have recently made changes to their positions in ACRX. Granite Investment Partners LLC bought a new stake in AcelRx Pharmaceuticals in the 2nd quarter valued at $182,000. Lincoln Capital Corp increased its holdings in AcelRx Pharmaceuticals by 83.3% in the 3rd quarter. Lincoln Capital Corp now owns 62,775 shares of the specialty pharmaceutical company’s stock valued at $242,000 after buying an additional 28,525 shares during the period. Northern Trust Corp increased its holdings in AcelRx Pharmaceuticals by 60.8% in 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. GSA Capital Partners LLP bought a new stake in AcelRx Pharmaceuticals in the 1st quarter valued at $113,000. Finally, FMR LLC increased its holdings in AcelRx Pharmaceuticals by 1,094.6% in 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. 8.53% of the stock is currently owned by institutional investors and hedge funds.
AcelRx Pharmaceuticals Company Profile
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.
Read More: What is a closed-end mutual fund (CEF)?
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.