AcelRx Pharmaceuticals Inc. (ACRX) Trading 5.3% Higher
AcelRx Pharmaceuticals Inc. (NASDAQ:ACRX)’s share price traded up 5.3% during trading on Wednesday . The company traded as high as $3.60 and last traded at $3.60, with a volume of 269,391 shares traded. The stock had previously closed at $3.42.
A number of equities analysts recently commented on the company. HC Wainwright reiterated a “buy” rating on shares of AcelRx Pharmaceuticals in a research report on Monday, August 1st. Roth Capital lifted their price objective on AcelRx Pharmaceuticals from $11.25 to $15.00 and gave the stock a “buy” rating in a research report on Thursday, September 15th. Jefferies Group reiterated a “buy” rating on shares of AcelRx Pharmaceuticals in a research report on Friday, June 10th. Stifel Nicolaus downgraded AcelRx Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday, August 5th. Finally, Cowen and Company reiterated a “hold” rating on shares of AcelRx Pharmaceuticals in a research report on Friday, July 29th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. AcelRx Pharmaceuticals has a consensus rating of “Hold” and a consensus price target of $8.20.
The company’s 50 day moving average price is $3.41 and its 200-day moving average price is $3.29. The firm’s market cap is $163.12 million.
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AcelRx Pharmaceuticals (NASDAQ:ACRX) last released its quarterly earnings results on Thursday, July 28th. The specialty pharmaceutical company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by $0.02. The firm earned $4.53 million during the quarter, compared to analyst estimates of $2.17 million. AcelRx Pharmaceuticals had a negative return on equity of 94.98% and a negative net margin of 111.47%. Analysts expect that AcelRx Pharmaceuticals Inc. will post ($0.91) EPS for the current fiscal year.
In related news, major shareholder Perceptive Advisors Llc sold 392,850 shares of the company’s stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $3.70, for a total value of $1,453,545.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 27.40% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the company. BlackRock Fund Advisors boosted its stake in AcelRx Pharmaceuticals by 1,090.6% in the second quarter. BlackRock Fund Advisors now owns 921,567 shares of the specialty pharmaceutical company’s stock worth $2,479,000 after buying an additional 844,165 shares in the last quarter. State Street Corp boosted its stake in shares of AcelRx Pharmaceuticals by 2,427.4% in the second quarter. State Street Corp now owns 424,598 shares of the specialty pharmaceutical company’s stock worth $1,142,000 after buying an additional 407,798 shares during the period. BlackRock Institutional Trust Company N.A. boosted its stake in shares of AcelRx Pharmaceuticals by 73.3% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 962,026 shares of the specialty pharmaceutical company’s stock worth $2,588,000 after buying an additional 406,974 shares during the period. Vanguard Group Inc. boosted its stake in shares of AcelRx Pharmaceuticals by 15.1% in the second quarter. Vanguard Group Inc. now owns 1,453,751 shares of the specialty pharmaceutical company’s stock worth $3,911,000 after buying an additional 191,017 shares during the period. Finally, Advisor Group Inc. bought a new stake in shares of AcelRx Pharmaceuticals during the second quarter worth approximately $355,000. Institutional investors and hedge funds own 35.84% of the company’s stock.
AcelRx Pharmaceuticals Company Profile
AcelRx Pharmaceuticals, Inc is a pharmaceutical company focused on the development and commercialization of therapies for the treatment of moderate-to-severe acute pain. The Company operates through the segment, which includes development and commercialization of product candidates for the treatment of pain.
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