AcelRx Pharmaceuticals, Inc. (ACRX) Downgraded by ValuEngine
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.
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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.
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