Cantor Fitzgerald set a $8.00 price objective on AcelRx Pharmaceuticals (NASDAQ:ACRX) in a research report sent to investors on Friday morning. The firm currently has a buy rating on the specialty pharmaceutical company’s stock.
“Zalviso offer advantages to the patient, physician/nurse and the treatment facility, in our opinion. In addition to Dsuvia approval, if Zalviso is also approved and both are priced accordingly, we believe it will drive the uptake of both products beyond the Street’s current estimates which should drive the stock higher. Valuation Summary We use a blend of DCF and multiples (EV/EBITDA) analysis to get to our 12-month price target of $8.”,” Cantor Fitzgerald’s analyst wrote.
Several other brokerages have also issued reports on ACRX. ValuEngine upgraded shares of AcelRx Pharmaceuticals from a hold rating to a buy rating in a research report on Wednesday, October 24th. HC Wainwright raised their price target on shares of AcelRx Pharmaceuticals from $7.00 to $8.00 and gave the stock a buy rating in a research note on Monday, October 15th. Zacks Investment Research downgraded shares of AcelRx Pharmaceuticals from a hold rating to a sell rating in a research note on Wednesday, October 17th. Jefferies Financial Group raised shares of AcelRx Pharmaceuticals from a hold rating to a buy rating and set a $8.00 price target on the stock in a research note on Monday, October 15th. Finally, Oppenheimer reissued a hold rating on shares of AcelRx Pharmaceuticals in a research note on Monday, October 15th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the stock. The stock presently has an average rating of Buy and a consensus price target of $7.64.
Shares of NASDAQ ACRX traded up $0.65 during trading on Friday, hitting $4.80. The company had a trading volume of 20,046,594 shares, compared to its average volume of 5,929,217. AcelRx Pharmaceuticals has a fifty-two week low of $1.65 and a fifty-two week high of $5.05.
AcelRx Pharmaceuticals (NASDAQ:ACRX) last announced its earnings results on Friday, November 2nd. The specialty pharmaceutical company reported ($0.21) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.20) by ($0.01). The firm had revenue of $0.38 million for the quarter, compared to analyst estimates of $1.10 million. Research analysts predict that AcelRx Pharmaceuticals will post -0.82 earnings per share for the current fiscal year.
In other news, insider Lawrence G. Hamel sold 6,953 shares of the firm’s stock in a transaction dated Monday, September 24th. The shares were sold at an average price of $4.50, for a total value of $31,288.50. Following the transaction, the insider now directly owns 24,371 shares of the company’s stock, valued at $109,669.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Badri N. Dasu sold 28,351 shares of AcelRx Pharmaceuticals stock in a transaction dated 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 $270,305. The disclosure for this sale can be found here. Over the last three months, insiders bought 57,300 shares of company stock worth $159,552. Insiders own 25.50% of the company’s stock.
A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. raised its stake in AcelRx Pharmaceuticals by 2.7% during the second quarter. BlackRock Inc. now owns 673,115 shares of the specialty pharmaceutical company’s stock worth $2,271,000 after purchasing an additional 17,737 shares during the period. Lincoln Capital Corp raised its stake in AcelRx Pharmaceuticals by 83.3% during the third 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. Creative Planning raised its stake in AcelRx Pharmaceuticals by 256.1% during the third quarter. Creative Planning now owns 45,222 shares of the specialty pharmaceutical company’s stock worth $174,000 after purchasing an additional 32,522 shares during the period. Northern Trust Corp raised its stake in AcelRx Pharmaceuticals by 60.8% during the first quarter. Northern Trust Corp now owns 91,481 shares of the specialty pharmaceutical company’s stock worth $192,000 after purchasing an additional 34,584 shares during the period. Finally, Granite Investment Partners LLC purchased a new position in AcelRx Pharmaceuticals during the second quarter worth about $182,000. 8.56% of the stock is currently owned by institutional investors.
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.
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