AcelRx Pharmaceuticals (ACRX) Upgraded to “Buy” at Zacks Investment Research
AcelRx Pharmaceuticals (NASDAQ:ACRX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The firm presently has a $2.50 price target on the specialty pharmaceutical company’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 20.48% from the stock’s previous close.
According to Zacks, “AcelRx Pharmaceuticals, Inc., is a specialty pharmaceutical company focused on the development and commercialization of therapies for the treatment of pain. The Company product candidates comprises: ARX-01 or the Sufentanil NanoTab PCA System; ARX-02 or the Sufentanil NanoTab BTP Management System; and ARX-03 or the Sufentanil/Triazolam NanoTab which are in their development stage. Its product ARX-01 is focused on acute post-operative pain, ARX-02 is focused on the treatment of cancer breakthrough pain and ARX-03 is focused on providing mild sedation, anxiety reduction, and pain relief to patients undergoing painful procedures in a physician’s office. AcelRx Pharmaceuticals, Inc. is headquartered in Redwood City, California. “
A number of other research firms have also issued reports on ACRX. ValuEngine lowered AcelRx Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Thursday, October 12th. HC Wainwright reissued a “buy” rating and set a $10.00 price target on shares of AcelRx Pharmaceuticals in a report on Tuesday, October 3rd. Piper Jaffray Companies reissued a “hold” rating and set a $2.00 price target on shares of AcelRx Pharmaceuticals in a report on Friday, October 13th. Roth Capital set a $8.00 price target on AcelRx Pharmaceuticals and gave the stock a “buy” rating in a report on Thursday, October 12th. Finally, Jefferies Group lowered AcelRx Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, October 13th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $6.21.
AcelRx Pharmaceuticals (NASDAQ:ACRX) last issued its quarterly earnings data on Thursday, November 9th. The specialty pharmaceutical company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.02). research analysts forecast that AcelRx Pharmaceuticals will post -1.06 EPS for the current fiscal year.
In other AcelRx Pharmaceuticals news, Director Mark G. Edwards acquired 30,000 shares of the stock in a transaction on Tuesday, November 14th. The shares were bought at an average price of $1.90 per share, with a total value of $57,000.00. Following the acquisition, the director now owns 150,000 shares of the company’s stock, valued at $285,000. The acquisition 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 insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in ACRX. Goldman Sachs Group Inc. acquired a new stake in shares of AcelRx Pharmaceuticals during the 2nd quarter valued at approximately $530,000. Virtu KCG Holdings LLC lifted its position in shares of AcelRx Pharmaceuticals by 600.9% during the 2nd quarter. Virtu KCG Holdings LLC now owns 118,675 shares of the specialty pharmaceutical company’s stock valued at $255,000 after acquiring an additional 101,742 shares during the period. Geller Family Office Services LLC acquired a new stake in shares of AcelRx Pharmaceuticals during the 3rd quarter valued at approximately $460,000. Finally, Perennial Advisors LLC acquired a new stake in shares of AcelRx Pharmaceuticals during the 3rd quarter valued at approximately $138,000. 13.70% of the stock is currently owned by 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for AcelRx Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AcelRx Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.