AcelRx Pharmaceuticals (NASDAQ:ACRX) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Monday, Zacks.com reports. The firm currently has a $2.25 price objective on the specialty pharmaceutical company’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 30.06% from the stock’s previous close.
According to Zacks, “AcelRx Pharmaceuticals, Inc., is a specialty pharmaceutical company focused on the development and commercialization of therapies for the treatment of pain. The Company product candidates comprises: ARX-01 or the Sufentanil NanoTab PCA System; ARX-02 or the Sufentanil NanoTab BTP Management System; and ARX-03 or the Sufentanil/Triazolam NanoTab which are in their development stage. Its product ARX-01 is focused on acute post-operative pain, ARX-02 is focused on the treatment of cancer breakthrough pain and ARX-03 is focused on providing mild sedation, anxiety reduction, and pain relief to patients undergoing painful procedures in a physician’s office. AcelRx Pharmaceuticals, Inc. is headquartered in Redwood City, California. “
Other research analysts have also recently issued research reports about the company. HC Wainwright reissued a “buy” rating and issued a $9.00 target price on shares of AcelRx Pharmaceuticals in a research note on Friday, November 8th. Credit Suisse Group cut AcelRx Pharmaceuticals from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $7.00 to $2.00 in a research note on Monday. Four research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. AcelRx Pharmaceuticals presently has a consensus rating of “Buy” and an average price target of $6.46.
Shares of AcelRx Pharmaceuticals stock traded down $0.05 during trading on Monday, hitting $1.73. The stock had a trading volume of 22,072 shares, compared to its average volume of 951,234. The firm has a market cap of $141.64 million, a price-to-earnings ratio of -2.14 and a beta of 2.06. AcelRx Pharmaceuticals has a 12 month low of $1.70 and a 12 month high of $4.09. The business’s 50-day moving average is $2.13 and its 200 day moving average is $2.50.
AcelRx Pharmaceuticals (NASDAQ:ACRX) last released its earnings results on Wednesday, November 6th. The specialty pharmaceutical company reported ($0.16) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.23) by $0.07. The firm had revenue of $0.61 million during the quarter, compared to the consensus estimate of $1.22 million. On average, sell-side analysts expect that AcelRx Pharmaceuticals will post -0.7 earnings per share for the current fiscal year.
In other AcelRx Pharmaceuticals news, Director Mark G. Edwards purchased 15,000 shares of the business’s stock in a transaction on Monday, August 26th. The stock was acquired at an average cost of $2.19 per share, for a total transaction of $32,850.00. Following the completion of the transaction, the director now directly owns 213,750 shares in the company, valued at approximately $468,112.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Mark G. Edwards purchased 25,000 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were acquired at an average price of $1.78 per share, with a total value of $44,500.00. Following the completion of the transaction, the director now owns 243,750 shares of the company’s stock, valued at $433,875. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 58,379 shares of company stock valued at $114,348. Company insiders own 7.50% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Parametric Portfolio Associates LLC purchased a new stake in AcelRx Pharmaceuticals in the second quarter worth about $26,000. WINTON GROUP Ltd purchased a new position in shares of AcelRx Pharmaceuticals during the 2nd quarter worth $40,000. Cubist Systematic Strategies LLC purchased a new position in shares of AcelRx Pharmaceuticals during the 2nd quarter worth $95,000. STA Wealth Management LLC purchased a new position in shares of AcelRx Pharmaceuticals during the 2nd quarter worth $159,000. Finally, Lincoln Capital Corp boosted its stake in shares of AcelRx Pharmaceuticals by 8.1% during the 2nd quarter. Lincoln Capital Corp now owns 67,000 shares of the specialty pharmaceutical company’s stock worth $170,000 after acquiring an additional 5,000 shares during the last quarter. Institutional investors and hedge funds own 21.37% 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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