HC Wainwright Reiterates “Buy” Rating for AcelRx Pharmaceuticals, Inc. (ACRX)
AcelRx Pharmaceuticals, Inc. (NASDAQ:ACRX)‘s stock had its “buy” rating restated by equities researchers at HC Wainwright in a note issued to investors on Tuesday. They presently have a $10.00 target price on the specialty pharmaceutical company’s stock. HC Wainwright’s price objective suggests a potential upside of 81.82% from the company’s previous close.
Other analysts also recently issued reports about the stock. ValuEngine downgraded shares of AcelRx Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Zacks Investment Research cut AcelRx Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Roth Capital reaffirmed a “buy” rating and issued a $12.50 target price on shares of AcelRx Pharmaceuticals in a research report on Thursday, August 10th. Jefferies Group LLC reiterated a “buy” rating and set a $7.00 price target on shares of AcelRx Pharmaceuticals in a report on Friday, July 14th. Finally, Piper Jaffray Companies set a $3.00 price target on AcelRx Pharmaceuticals and gave the company a “hold” rating in a report on Tuesday, July 25th. One 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. The company currently has a consensus rating of “Hold” and a consensus price target of $7.93.
Shares of AcelRx Pharmaceuticals (ACRX) remained flat at $5.50 during midday trading on Tuesday. 3,881,359 shares of the company’s stock traded hands. The company has a 50-day moving average of $3.37 and a 200-day moving average of $2.87. The stock’s market capitalization is $249.59 million. AcelRx Pharmaceuticals has a 12-month low of $1.95 and a 12-month high of $5.75.
AcelRx Pharmaceuticals (NASDAQ:ACRX) last issued its quarterly earnings results on Tuesday, August 1st. The specialty pharmaceutical company reported ($0.29) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.28) by ($0.01). The company had revenue of $2.66 million for the quarter, compared to analyst estimates of $2.63 million. Equities research analysts expect that AcelRx Pharmaceuticals will post ($1.13) earnings per share for the current fiscal year.
In related news, CEO Vincent J. Angotti purchased 15,000 shares of the company’s stock in a transaction dated Thursday, August 24th. The shares were acquired at an average cost of $3.00 per share, with a total value of $45,000.00. Following the completion of the purchase, the chief executive officer now owns 15,000 shares of the company’s stock, valued at approximately $45,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Pamela P. Palmer purchased 10,000 shares of the company’s stock in a transaction dated Tuesday, August 22nd. The stock was bought at an average cost of $2.95 per share, for a total transaction of $29,500.00. The disclosure for this purchase can be found here. Insiders have acquired a total of 37,000 shares of company stock valued at $112,280 in the last three months. Company insiders own 28.10% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Teachers Advisors LLC boosted its position in AcelRx Pharmaceuticals by 14.6% during the fourth quarter. Teachers Advisors LLC now owns 66,715 shares of the specialty pharmaceutical company’s stock valued at $173,000 after purchasing an additional 8,475 shares during the last quarter. Bank of New York Mellon Corp grew its stake 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 valued at $355,000 after purchasing an additional 6,942 shares in the last quarter. WealthTrust Axiom LLC grew its stake 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 valued at $451,000 after purchasing an additional 70,000 shares in the last quarter. LMR Partners LLP purchased a new position in AcelRx Pharmaceuticals in the second quarter valued at about $319,000. Finally, Virtu KCG Holdings LLC grew its stake in AcelRx Pharmaceuticals by 600.9% in the second quarter. Virtu KCG Holdings LLC now owns 118,675 shares of the specialty pharmaceutical company’s stock valued at $255,000 after purchasing an additional 101,742 shares in the last quarter. 23.32% of the stock is owned by hedge funds and other 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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