AcelRx Pharmaceuticals, Inc. (NASDAQ:ACRX) was downgraded by analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a report released on Thursday.

Other research analysts have also recently issued reports about the company. Roth Capital set a $8.00 price target on AcelRx Pharmaceuticals and gave the company a “buy” rating in a research report on Thursday. Zacks Investment Research lowered AcelRx Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Jefferies Group LLC restated a “buy” rating and issued a $7.00 price objective on shares of AcelRx Pharmaceuticals in a research note on Friday, July 14th. HC Wainwright restated a “buy” rating and issued a $7.00 price objective on shares of AcelRx Pharmaceuticals in a research note on Friday, August 4th. Finally, Cowen and Company restated a “hold” rating on shares of AcelRx Pharmaceuticals in a research note on Tuesday, August 1st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. AcelRx Pharmaceuticals currently has a consensus rating of “Hold” and an average price target of $8.00.

Shares of AcelRx Pharmaceuticals (NASDAQ:ACRX) traded down 59.81% on Thursday, hitting $2.15. The company had a trading volume of 24,274,300 shares. The firm’s market capitalization is $97.57 million. The firm has a 50 day moving average of $3.80 and a 200-day moving average of $2.97. 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 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. On average, equities analysts predict that AcelRx Pharmaceuticals will post ($1.13) EPS for the current year.

COPYRIGHT VIOLATION NOTICE: This piece of content was originally posted by American Banking News and is the sole property of of American Banking News. If you are reading this piece of content on another website, it was copied illegally and reposted in violation of US and international trademark and copyright legislation. The original version of this piece of content can be read at https://www.americanbankingnews.com/2017/10/12/acelrx-pharmaceuticals-inc-acrx-downgraded-by-valuengine.html.

In other AcelRx Pharmaceuticals news, insider Pamela P. Palmer acquired 10,000 shares of the company’s stock in a transaction on Tuesday, August 22nd. The shares were purchased at an average price of $2.95 per share, for a total transaction of $29,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Vincent J. Angotti acquired 15,000 shares of the company’s stock in a transaction on Thursday, August 24th. The stock was acquired at an average price of $3.00 per share, for a total transaction of $45,000.00. Following the purchase, the chief executive officer now directly owns 15,000 shares of the company’s stock, valued at $45,000. The disclosure for this purchase can be found here. Insiders acquired 37,000 shares of company stock worth $112,280 in the last 90 days. Corporate insiders own 28.10% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. bought a new position in shares of AcelRx Pharmaceuticals during the second quarter worth approximately $530,000. Virtu KCG Holdings LLC increased its stake in shares of AcelRx Pharmaceuticals by 600.9% during the second quarter. Virtu KCG Holdings LLC now owns 118,675 shares of the specialty pharmaceutical company’s stock worth $255,000 after purchasing an additional 101,742 shares during the period. LMR Partners LLP bought a new position in shares of AcelRx Pharmaceuticals during the second quarter worth approximately $319,000. WealthTrust Axiom LLC increased its stake in shares of AcelRx Pharmaceuticals by 50.0% during the second quarter. WealthTrust Axiom LLC now owns 210,000 shares of the specialty pharmaceutical company’s stock worth $451,000 after purchasing an additional 70,000 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of AcelRx Pharmaceuticals by 6.6% during 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 purchasing an additional 6,942 shares during the period. Institutional investors own 23.32% 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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for AcelRx Pharmaceuticals (NASDAQ:ACRX)

Receive News & Ratings for AcelRx Pharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AcelRx Pharmaceuticals Inc. and related companies with MarketBeat.com's FREE daily email newsletter.