AcelRx Pharmaceuticals (NASDAQ:ACRX)‘s stock had its “buy” rating reiterated by analysts at HC Wainwright in a research note issued on Friday, AnalystRatings.com reports. They currently have a $9.00 price objective on the specialty pharmaceutical company’s stock. HC Wainwright’s target price suggests a potential upside of 363.92% from the company’s current price.
A number of other research firms also recently weighed in on ACRX. Credit Suisse Group started coverage on AcelRx Pharmaceuticals in a report on Monday, August 5th. They set an “outperform” rating and a $7.00 target price on the stock. Zacks Investment Research cut AcelRx Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $7.33.
Shares of ACRX stock traded down $0.06 during midday trading on Friday, reaching $1.94. 1,142,700 shares of the stock were exchanged, compared to its average volume of 1,497,888. AcelRx Pharmaceuticals has a 1 year low of $1.85 and a 1 year high of $4.09. The company’s 50 day moving average is $2.19 and its two-hundred day moving average is $2.54. The firm has a market cap of $161.25 million, a PE ratio of -2.40 and a beta of 2.06.
AcelRx Pharmaceuticals (NASDAQ:ACRX) last posted its earnings results on Wednesday, November 6th. The specialty pharmaceutical company reported ($0.16) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.07. The firm had revenue of $0.61 million for the quarter, compared to analysts’ expectations of $1.22 million. As a group, research analysts forecast that AcelRx Pharmaceuticals will post -0.75 earnings per share for the current fiscal year.
In related news, Director Mark G. Edwards purchased 15,000 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were purchased at an average cost of $2.19 per share, with a total value of $32,850.00. Following the transaction, the director now directly owns 213,750 shares in the company, valued at approximately $468,112.50. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders own 7.50% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of ACRX. Parametric Portfolio Associates LLC bought a new stake in shares of AcelRx Pharmaceuticals in the 2nd quarter worth approximately $26,000. WINTON GROUP Ltd bought a new position in AcelRx Pharmaceuticals in the 2nd quarter valued at approximately $40,000. Cubist Systematic Strategies LLC bought a new position in AcelRx Pharmaceuticals in the 2nd quarter valued at approximately $95,000. STA Wealth Management LLC bought a new position in AcelRx Pharmaceuticals in the 2nd quarter valued at approximately $159,000. Finally, Lincoln Capital Corp lifted its position in AcelRx Pharmaceuticals by 8.1% in the 2nd quarter. Lincoln Capital Corp now owns 67,000 shares of the specialty pharmaceutical company’s stock valued at $170,000 after acquiring an additional 5,000 shares in the last quarter. 21.41% of the stock is currently owned by hedge funds and other institutional investors.
About AcelRx Pharmaceuticals
AcelRx Pharmaceuticals, Inc, a specialty pharmaceutical company, focuses on the development and commercialization of therapies for the treatment of acute pain. Its lead product candidate is DSUVIA, a 30 mcg sufentanil sublingual tablet for the treatment of moderate-to-severe acute pain. The company also develops ZALVISO, a pre-programmed and patient-controlled analgesia system that allows hospital patients with moderate-to-severe acute pain to self-dose with sufentanil sublingual tablets to manage their pain.
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