Piper Jaffray Companies Reiterates “$3.00” Price Target for AcelRx Pharmaceuticals, Inc. (NASDAQ:ACRX)
AcelRx Pharmaceuticals, Inc. (NASDAQ:ACRX) has been assigned a $3.00 price target by equities research analysts at Piper Jaffray Companies in a research note issued on Tuesday. The brokerage currently has a “hold” rating on the specialty pharmaceutical company’s stock. Piper Jaffray Companies’ target price suggests a potential downside of 18.92% from the company’s current price.
ACRX has been the subject of a number of other research reports. ValuEngine raised AcelRx Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Monday. Zacks Investment Research raised AcelRx Pharmaceuticals from a “hold” rating to a “buy” rating and set a $3.00 price target for the company in a report on Wednesday, May 3rd. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $7.00 price objective on shares of AcelRx Pharmaceuticals in a research note on Friday, July 14th. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $7.86.
AcelRx Pharmaceuticals (NASDAQ ACRX) traded down 2.63% during mid-day trading on Tuesday, hitting $3.70. The company had a trading volume of 907,373 shares. AcelRx Pharmaceuticals has a 12 month low of $1.95 and a 12 month high of $4.08. The firm’s market capitalization is $167.91 million. The company has a 50-day moving average price of $2.42 and a 200 day moving average price of $2.72.
AcelRx Pharmaceuticals (NASDAQ:ACRX) last released its quarterly earnings results on Monday, May 8th. The specialty pharmaceutical company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.28) by $0.06. The business had revenue of $3.11 million during the quarter, compared to analyst estimates of $2.36 million. AcelRx Pharmaceuticals had a negative return on equity of 478.66% and a negative net margin of 273.65%. Equities analysts forecast that AcelRx Pharmaceuticals will post ($1.15) EPS for the current fiscal year.
In other news, major shareholder Life Sciences Maste Perceptive sold 875,000 shares of the company’s stock in a transaction that occurred on Monday, June 19th. The stock was sold at an average price of $2.40, for a total value of $2,100,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 28.10% of the stock is owned by corporate insiders.
Several large investors have recently bought and sold shares of the stock. Teachers Advisors LLC raised its stake in AcelRx Pharmaceuticals by 14.6% in the fourth quarter. Teachers Advisors LLC now owns 66,715 shares of the specialty pharmaceutical company’s stock worth $173,000 after buying an additional 8,475 shares during the period. Acadian Asset Management LLC raised its position in shares of AcelRx Pharmaceuticals by 326.1% in the first quarter. Acadian Asset Management LLC now owns 41,927 shares of the specialty pharmaceutical company’s stock valued at $132,000 after buying an additional 32,087 shares during the last quarter. ING Groep NV raised its position in shares of AcelRx Pharmaceuticals by 200.0% in the first quarter. ING Groep NV now owns 39,000 shares of the specialty pharmaceutical company’s stock valued at $123,000 after buying an additional 26,000 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of AcelRx Pharmaceuticals by 6.6% in the first quarter. Bank of New York Mellon Corp now owns 112,682 shares of the specialty pharmaceutical company’s stock valued at $355,000 after buying an additional 6,942 shares during the last quarter. Institutional investors and hedge funds own 30.32% of the company’s stock.
About AcelRx Pharmaceuticals
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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