Roth Capital Reiterates Buy Rating for AcelRx Pharmaceuticals, Inc. (ACRX)
AcelRx Pharmaceuticals, Inc. (NASDAQ:ACRX)‘s stock had its “buy” rating reissued by equities research analysts at Roth Capital in a note issued to investors on Thursday. They presently have a $12.50 target price on the specialty pharmaceutical company’s stock. Roth Capital’s target price suggests a potential upside of 316.67% from the stock’s current price.
Other equities analysts have also issued reports about the company. Stifel Nicolaus raised AcelRx Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Wednesday. HC Wainwright reaffirmed a “buy” rating and issued a $7.00 target price on shares of AcelRx Pharmaceuticals in a report on Friday, August 4th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $7.00 target price on shares of AcelRx Pharmaceuticals in a report on Friday, July 14th. Zacks Investment Research raised AcelRx Pharmaceuticals from a “hold” rating to a “buy” rating and set a $3.00 target price for the company in a report on Wednesday, May 3rd. Finally, Piper Jaffray Companies set a $3.00 target price on AcelRx Pharmaceuticals and gave the company a “hold” rating in a report on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. AcelRx Pharmaceuticals currently has an average rating of “Hold” and a consensus target price of $7.50.
AcelRx Pharmaceuticals (NASDAQ:ACRX) traded up 2.500% on Thursday, hitting $3.075. The company had a trading volume of 583,640 shares. AcelRx Pharmaceuticals has a one year low of $1.95 and a one year high of $4.08. The stock’s 50-day moving average price is $2.74 and its 200 day moving average price is $2.78. The company’s market capitalization is $139.54 million.
AcelRx Pharmaceuticals (NASDAQ:ACRX) last issued its quarterly earnings data on Tuesday, August 1st. The specialty pharmaceutical company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.28) by $0.01. The company had revenue of $2.66 million during the quarter, compared to analysts’ expectations of $2.63 million. AcelRx Pharmaceuticals had a negative return on equity of 478.66% and a negative net margin of 319.19%. On average, analysts expect that AcelRx Pharmaceuticals will post ($1.13) EPS for the current fiscal year.
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In other news, major shareholder Life Sciences Maste Perceptive sold 875,000 shares of the firm’s stock in a transaction 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 is available through this hyperlink. 28.10% of the stock is currently owned by corporate insiders.
Several institutional investors have recently bought and sold shares of ACRX. WealthTrust Axiom LLC raised its position in AcelRx Pharmaceuticals by 50.0% in the second quarter. WealthTrust Axiom LLC now owns 210,000 shares of the specialty pharmaceutical company’s stock worth $451,000 after buying an additional 70,000 shares during the last quarter. LMR Partners LLP bought a new position in AcelRx Pharmaceuticals during the second quarter worth approximately $319,000. Bank of New York Mellon Corp raised its position in 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 worth $355,000 after buying an additional 6,942 shares during the last quarter. Teachers Advisors LLC raised its position 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 last quarter. Finally, Acadian Asset Management LLC raised its position in 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 worth $132,000 after buying an additional 32,087 shares during the last quarter. 30.39% of the stock is owned by hedge funds and other institutional investors.
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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