AcelRx Pharmaceuticals Shares Down 5.4% on Analyst Downgrade (ACRX)
Shares of AcelRx Pharmaceuticals (NASDAQ:ACRX) fell 5.4% on Tuesday after Jefferies Group lowered their price target on the stock from $17.00 to $16.00, AR Network reports. Jefferies Group currently has a buy rating on the stock. AcelRx Pharmaceuticals traded as low as $6.09 and last traded at $6.10, with a volume of 1,019,973 shares. The stock had previously closed at $6.45.
Other equities research analysts have also recently issued reports about the stock. Analysts at Cowen and Company reiterated an “outperform” rating on shares of AcelRx Pharmaceuticals in a research note on Tuesday, July 29th. They now have a $14.00 price target on the stock, down previously from $15.00. Separately, analysts at Piper Jaffray downgraded shares of AcelRx Pharmaceuticals from an “overweight” rating to a “neutral” rating in a research note on Tuesday, July 29th. They now have a $8.00 price target on the stock, down previously from $14.00. Finally, analysts at JMP Securities cut their price target on shares of AcelRx Pharmaceuticals from $14.00 to $12.00 in a research note on Monday, July 28th. They now have an “outperform” rating on the stock. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. AcelRx Pharmaceuticals presently has a consensus rating of “Buy” and a consensus price target of $13.06.
The stock has a 50-day moving average of $9.17 and a 200-day moving average of $10.38. The company’s market cap is $266.0 million.
AcelRx Pharmaceuticals (NASDAQ:ACRX) last released its earnings data on Monday, August 11th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.26) by $0.02. Analysts expect that AcelRx Pharmaceuticals will post $-1.02 EPS for the current fiscal year.
AcelRx Pharmaceuticals, Inc is a United States-based Pharmaceutical Company, which develops and commercializes therapies for the treatment of pain.
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