AcelRx Pharmaceuticals (NASDAQ:ACRX) Shares Down 8.7%


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AcelRx Pharmaceuticals, Inc. (NASDAQ:ACRX) shares traded down 8.7% during mid-day trading on Wednesday . The stock traded as low as $1.81 and last traded at $1.99. 17,075,264 shares traded hands during mid-day trading, an increase of 113% from the average session volume of 8,014,595 shares. The stock had previously closed at $2.18.

Separately, Zacks Investment Research downgraded AcelRx Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Thursday, November 12th. Two investment analysts have rated the stock with a sell rating and three have assigned a buy rating to the company. AcelRx Pharmaceuticals currently has an average rating of “Hold” and an average price target of $4.52.

The stock has a market capitalization of $180.05 million, a price-to-earnings ratio of -3.55 and a beta of 1.16. The company has a fifty day simple moving average of $1.37 and a two-hundred day simple moving average of $1.38.

AcelRx Pharmaceuticals (NASDAQ:ACRX) last announced its quarterly earnings data on Tuesday, November 10th. The specialty pharmaceutical company reported ($0.10) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by ($0.02). The business had revenue of $1.37 million during the quarter, compared to analysts’ expectations of $6.15 million. On average, equities research analysts anticipate that AcelRx Pharmaceuticals, Inc. will post -0.48 EPS for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in ACRX. Morgan Stanley raised its holdings in AcelRx Pharmaceuticals by 30.4% in the 3rd quarter. Morgan Stanley now owns 801,424 shares of the specialty pharmaceutical company’s stock valued at $1,138,000 after acquiring an additional 186,993 shares in the last quarter. GSA Capital Partners LLP grew its position in shares of AcelRx Pharmaceuticals by 570.6% in the 3rd quarter. GSA Capital Partners LLP now owns 158,174 shares of the specialty pharmaceutical company’s stock valued at $225,000 after buying an additional 134,588 shares during the last quarter. Robertson Stephens Wealth Management LLC grew its position in shares of AcelRx Pharmaceuticals by 108.0% in the 3rd quarter. Robertson Stephens Wealth Management LLC now owns 212,052 shares of the specialty pharmaceutical company’s stock valued at $301,000 after buying an additional 110,087 shares during the last quarter. Virtu Financial LLC grew its position in shares of AcelRx Pharmaceuticals by 271.6% in the 3rd quarter. Virtu Financial LLC now owns 90,812 shares of the specialty pharmaceutical company’s stock valued at $129,000 after buying an additional 66,375 shares during the last quarter. Finally, Townsquare Capital LLC bought a new stake in shares of AcelRx Pharmaceuticals in the 3rd quarter valued at about $80,000. 24.45% of the stock is owned by hedge funds and other institutional investors.

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. The company's lead product candidate is DSUVIA, a 30 mcg sufentanil sublingual tablet for the treatment of moderate-to-severe acute pain.

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