AcelRx Pharmaceuticals (ACRX) Given “Buy” Rating at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of AcelRx Pharmaceuticals (NASDAQ:ACRX) in a research note released on Tuesday morning. They currently have a $9.00 target price on the specialty pharmaceutical company’s stock.

“916-3963, Probability of approval Risk-adj value Full value Dsuvia – U.S. 100% $8.06 $8.06 Shares outstanding 61,907 Zalviso – EU 100% $0.15 $0.15 Current share price $4.27 Discount rate 12.5% Zalviso – U.S.”,” the firm’s analyst wrote.

Several other equities analysts have also recently issued reports on the company. Jefferies Financial Group raised AcelRx Pharmaceuticals from a hold rating to a buy rating and set a $8.00 price objective on the stock in a research report on Monday, October 15th. Cantor Fitzgerald set a $6.00 price objective on AcelRx Pharmaceuticals and gave the company a buy rating in a research report on Monday, October 8th. Zacks Investment Research raised 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 Friday, October 5th. Royal Bank of Canada set a $7.00 price objective on AcelRx Pharmaceuticals and gave the company a buy rating in a research report on Monday, October 22nd. Finally, Oppenheimer reaffirmed a hold rating on shares of AcelRx Pharmaceuticals in a research report on Tuesday, October 9th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $7.93.

Shares of ACRX traded down $0.63 during mid-day trading on Tuesday, reaching $3.28. The company had a trading volume of 12,855,213 shares, compared to its average volume of 6,010,434. AcelRx Pharmaceuticals has a 52 week low of $1.65 and a 52 week high of $5.05. The stock has a market cap of $219.77 million, a P/E ratio of -2.98 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 (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.01). The company had revenue of $0.38 million during the quarter, compared to analyst estimates of $1.10 million. As a group, sell-side analysts forecast that AcelRx Pharmaceuticals will post -0.86 EPS for the current fiscal year.

In other AcelRx Pharmaceuticals news, 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 completion of the sale, the insider now directly owns 24,371 shares in the company, valued at approximately $109,669.50. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Badri N. Dasu sold 28,351 shares of the business’s stock in a transaction 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 sale, 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 and hedge funds have recently made changes to their positions in the business. BlackRock Inc. raised its stake in AcelRx Pharmaceuticals by 16.8% during the 3rd quarter. BlackRock Inc. now owns 786,034 shares of the specialty pharmaceutical company’s stock valued at $3,026,000 after buying an additional 112,919 shares during the last quarter. Fosun International Ltd purchased a new stake in AcelRx Pharmaceuticals during the 3rd quarter valued at $1,940,000. Cedar Wealth Management LLC raised its stake in AcelRx Pharmaceuticals by 182.5% during the 3rd quarter. Cedar Wealth Management LLC now owns 33,895 shares of the specialty pharmaceutical company’s stock valued at $130,000 after buying an additional 21,895 shares during the last quarter. Creative Planning raised its stake in AcelRx Pharmaceuticals by 256.1% during the 3rd quarter. Creative Planning now owns 45,222 shares of the specialty pharmaceutical company’s stock valued at $174,000 after buying an additional 32,522 shares during the last quarter. Finally, Lincoln Capital Corp raised its stake 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 valued at $242,000 after buying an additional 28,525 shares during the last quarter. Institutional investors and hedge funds own 8.58% 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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Analyst Recommendations for AcelRx Pharmaceuticals (NASDAQ:ACRX)

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