AcelRx Pharmaceuticals Inc (NASDAQ:ACRX) has received an average rating of “Buy” from the eleven analysts that are covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $7.44.
A number of equities analysts have recently commented on the stock. Zacks Investment Research lowered shares of AcelRx Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday, April 26th. B. Riley assumed coverage on shares of AcelRx Pharmaceuticals in a research report on Wednesday, April 24th. They issued a “buy” rating and a $6.50 price objective for the company. BidaskClub upgraded shares of AcelRx Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Monday, April 1st. LADENBURG THALM/SH SH restated a “buy” rating and issued a $10.00 price objective on shares of AcelRx Pharmaceuticals in a research report on Thursday, May 9th. Finally, ValuEngine lowered shares of AcelRx Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Thursday, May 9th.
NASDAQ:ACRX traded up $0.10 on Thursday, reaching $2.96. 1,014,596 shares of the company’s stock were exchanged, compared to its average volume of 2,073,677. The company has a quick ratio of 4.91, a current ratio of 5.03 and a debt-to-equity ratio of 0.79. The firm has a market capitalization of $229.25 million, a PE ratio of -3.65 and a beta of 2.16. AcelRx Pharmaceuticals has a 52 week low of $1.99 and a 52 week high of $5.05.
AcelRx Pharmaceuticals (NASDAQ:ACRX) last released its quarterly earnings data on Wednesday, May 8th. The specialty pharmaceutical company reported ($0.17) EPS for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.06. The firm had revenue of $0.27 million during the quarter, compared to the consensus estimate of $0.85 million. Analysts anticipate that AcelRx Pharmaceuticals will post -0.84 earnings per share for the current fiscal year.
In related news, Director Mark G. Edwards bought 19,000 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were acquired at an average cost of $2.99 per share, with a total value of $56,810.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders bought 26,721 shares of company stock valued at $78,506 over the last 90 days. 25.50% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Resources Investment Advisors Inc. purchased a new stake in AcelRx Pharmaceuticals in the first quarter valued at approximately $34,000. First National Bank of Mount Dora Trust Investment Services purchased a new stake in AcelRx Pharmaceuticals in the first quarter valued at approximately $70,000. Jane Street Group LLC purchased a new stake in AcelRx Pharmaceuticals in the first quarter valued at approximately $91,000. Charles Schwab Investment Management Inc. raised its stake in AcelRx Pharmaceuticals by 93.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 28,438 shares of the specialty pharmaceutical company’s stock valued at $99,000 after purchasing an additional 13,738 shares in the last quarter. Finally, Raymond James & Associates raised its stake in AcelRx Pharmaceuticals by 96.7% in the fourth quarter. Raymond James & Associates now owns 29,500 shares of the specialty pharmaceutical company’s stock valued at $68,000 after purchasing an additional 14,500 shares in the last quarter. 18.57% of the stock is currently owned by institutional investors and hedge funds.
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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