Roth Capital Analysts Give AcelRx Pharmaceuticals Inc. (ACRX) a $15.00 Price Target
AcelRx Pharmaceuticals Inc. (NASDAQ:ACRX) has been given a $15.00 target price by stock analysts at Roth Capital in a research note issued to investors on Saturday. The firm presently has a a “buy” rating on the specialty pharmaceutical company’s stock. Roth Capital’s price objective indicates a potential upside of 347.76% from the company’s current price.
ACRX has been the topic of several other reports. Stifel Nicolaus cut AcelRx Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, August 5th. HC Wainwright reiterated a “buy” rating on shares of AcelRx Pharmaceuticals in a report on Monday, August 1st. Jefferies Group reiterated a “buy” rating and issued a $7.00 target price on shares of AcelRx Pharmaceuticals in a report on Tuesday, October 4th. Cowen and Company reiterated a “hold” rating on shares of AcelRx Pharmaceuticals in a report on Friday, July 29th. Finally, RBC Capital Markets reiterated a “positive” rating and issued a $6.00 target price on shares of AcelRx Pharmaceuticals in a report on Tuesday, August 16th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. AcelRx Pharmaceuticals presently has a consensus rating of “Hold” and an average price target of $8.20.
Shares of AcelRx Pharmaceuticals (NASDAQ:ACRX) traded down 1.18% on Friday, reaching $3.35. 278,919 shares of the company were exchanged. AcelRx Pharmaceuticals has a 12 month low of $2.40 and a 12 month high of $5.88. The stock’s market capitalization is $151.80 million. The stock has a 50 day moving average price of $3.49 and a 200-day moving average price of $3.32.
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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 the Thomson Reuters’ consensus estimate of ($0.22) by $0.02. The firm had revenue of $4.53 million for the quarter, compared to the consensus estimate of $2.17 million. AcelRx Pharmaceuticals had a negative return on equity of 94.98% and a negative net margin of 111.47%. On average, equities analysts expect that AcelRx Pharmaceuticals will post ($0.93) EPS for the current fiscal year.
In other AcelRx Pharmaceuticals news, major shareholder Perceptive Advisors Llc sold 392,850 shares of the business’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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. 27.40% of the stock is owned by company insiders.
Several institutional investors have recently modified their holdings of the company. BlackRock Fund Advisors raised its position in shares of 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 during the last quarter. BlackRock Investment Management LLC raised its position in shares of AcelRx Pharmaceuticals by 2,239.6% in the second quarter. BlackRock Investment Management LLC now owns 132,237 shares of the specialty pharmaceutical company’s stock worth $356,000 after buying an additional 126,585 shares during the last quarter. Vanguard Group Inc. raised its position 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 last quarter. Nippon Life Insurance Co. purchased a new position in shares of AcelRx Pharmaceuticals during the second quarter worth $2,247,000. Finally, California State Teachers Retirement System purchased a new position in shares of AcelRx Pharmaceuticals during the second quarter worth $200,000. 35.84% of the stock is currently owned by institutional investors.
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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