AcelRx Pharmaceuticals (NASDAQ:ACRX) was upgraded by stock analysts at ValuEngine from a “hold” rating to a “buy” rating in a report issued on Friday.
Other equities research analysts also recently issued research reports about the company. LADENBURG THALM/SH SH began coverage on AcelRx Pharmaceuticals in a research report on Thursday, August 16th. They set a “buy” rating and a $7.00 target price on the stock. Oppenheimer reiterated a “hold” rating on shares of AcelRx Pharmaceuticals in a research report on Friday, August 3rd. Zacks Investment Research upgraded AcelRx Pharmaceuticals from a “hold” rating to a “buy” rating and set a $3.50 price objective on the stock in a research report on Thursday, August 9th. Cantor Fitzgerald reiterated a “buy” rating and issued a $6.00 price objective on shares of AcelRx Pharmaceuticals in a research report on Thursday, August 2nd. Finally, HC Wainwright increased their price objective on AcelRx Pharmaceuticals from $7.00 to $8.00 and gave the stock a “buy” rating in a research report on Monday, October 15th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $7.64.
NASDAQ:ACRX opened at $4.80 on Friday. AcelRx Pharmaceuticals has a 1 year low of $1.65 and a 1 year high of $5.05.
AcelRx Pharmaceuticals (NASDAQ:ACRX) last posted its earnings results on Friday, November 2nd. The specialty pharmaceutical company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.01). The business had revenue of $0.38 million during the quarter, compared to analysts’ expectations of $1.10 million. Sell-side analysts predict that AcelRx Pharmaceuticals will post -0.82 earnings per share for the current year.
In related news, insider Lawrence G. Hamel sold 6,953 shares of the stock in a transaction on Monday, September 24th. The stock was sold at an average price of $4.50, for a total value of $31,288.50. Following the sale, the insider now owns 24,371 shares in the company, valued at $109,669.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Vincent J. Angotti acquired 10,000 shares of the stock in a transaction that occurred on Tuesday, August 7th. The stock was acquired at an average price of $2.90 per share, for a total transaction of $29,000.00. The disclosure for this purchase can be found here. Insiders purchased 57,300 shares of company stock worth $159,552 in the last quarter. 25.50% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. raised its position in AcelRx Pharmaceuticals by 2.7% during the second quarter. BlackRock Inc. now owns 673,115 shares of the specialty pharmaceutical company’s stock valued at $2,271,000 after purchasing an additional 17,737 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in AcelRx Pharmaceuticals during the second quarter valued at about $1,676,000. FMR LLC raised its position in AcelRx Pharmaceuticals by 1,094.6% during the second quarter. FMR LLC now owns 298,644 shares of the specialty pharmaceutical company’s stock valued at $1,008,000 after purchasing an additional 273,644 shares in the last quarter. Northern Trust Corp raised its position 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 valued at $192,000 after purchasing an additional 34,584 shares in the last quarter. Finally, Lincoln Capital Corp raised its position 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 valued at $242,000 after purchasing an additional 28,525 shares in the last quarter. Institutional investors and hedge funds own 8.56% of the company’s stock.
About AcelRx Pharmaceuticals
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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