AcelRx Pharmaceuticals (ACRX) Shares Gap Down to $3.90

AcelRx Pharmaceuticals Inc (NASDAQ:ACRX) gapped down prior to trading on Wednesday . The stock had previously closed at $3.67, but opened at $3.90. AcelRx Pharmaceuticals shares last traded at $3.69, with a volume of 3905675 shares.

A number of equities research analysts recently commented on the stock. Zacks Investment Research cut shares of AcelRx Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, July 31st. HC Wainwright lifted their price target on shares of AcelRx Pharmaceuticals from $7.00 to $8.00 and gave the stock a “buy” rating in a report on Monday, October 15th. Oppenheimer reaffirmed a “hold” rating on shares of AcelRx Pharmaceuticals in a report on Tuesday, October 9th. Cantor Fitzgerald set a $6.00 price target on shares of AcelRx Pharmaceuticals and gave the stock a “buy” rating in a report on Monday, October 8th. Finally, B. Riley assumed coverage on shares of AcelRx Pharmaceuticals in a report on Tuesday, October 23rd. They issued a “buy” rating and a $9.00 price target on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company. AcelRx Pharmaceuticals presently has a consensus rating of “Buy” and an average price target of $7.93.

The company has a market cap of $290.88 million, a price-to-earnings ratio of -3.23 and a beta of 2.03.

AcelRx Pharmaceuticals (NASDAQ:ACRX) last released its quarterly earnings data on Monday, November 5th. The specialty pharmaceutical company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.01). The company had revenue of $0.38 million for the quarter, compared to analyst estimates of $1.10 million. Equities analysts predict that AcelRx Pharmaceuticals Inc will post -0.82 earnings per share for the current fiscal year.

In related news, insider Lawrence G. Hamel sold 6,953 shares of AcelRx Pharmaceuticals stock in a transaction that occurred on Monday, September 24th. The shares were sold at an average price of $4.50, for a total value of $31,288.50. Following the completion of the transaction, the insider now directly owns 24,371 shares in the company, valued at approximately $109,669.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Badri N. Dasu sold 28,351 shares of AcelRx Pharmaceuticals stock in a transaction that occurred on Monday, October 15th. The shares were sold at an average price of $5.00, for a total transaction of $141,755.00. Following the completion of the transaction, the insider now owns 54,061 shares of the company’s stock, valued at $270,305. The disclosure for this sale can be found here. 25.50% of the stock is currently owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its stake in AcelRx Pharmaceuticals by 2.7% in 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 in the last quarter. Renaissance Technologies LLC purchased a new position in shares of AcelRx Pharmaceuticals during the 2nd quarter valued at $1,676,000. FMR LLC grew its position 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 purchasing an additional 273,644 shares in the last quarter. Northern Trust Corp grew its position 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 purchasing an additional 34,584 shares in the last quarter. Finally, Lincoln Capital Corp grew its position in shares of AcelRx Pharmaceuticals by 83.3% during the 3rd 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 8.58% of the company’s stock.

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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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