AcelRx Pharmaceuticals (ACRX) Shares Up 11.4%

AcelRx Pharmaceuticals Inc (NASDAQ:ACRX)’s share price shot up 11.4% during mid-day trading on Monday . The stock traded as high as $3.95 and last traded at $4.40. 40,590 shares changed hands during mid-day trading, a decline of 92% from the average session volume of 530,351 shares. The stock had previously closed at $3.95.

Several brokerages have recently issued reports on ACRX. Cantor Fitzgerald reissued an “overweight” rating on shares of AcelRx Pharmaceuticals in a report on Thursday, June 14th. Zacks Investment Research lowered shares of AcelRx Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, June 26th. Oppenheimer reaffirmed a “hold” rating on shares of AcelRx Pharmaceuticals in a research note on Friday, August 3rd. ValuEngine raised shares of AcelRx Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Friday, June 1st. Finally, HC Wainwright reaffirmed a “buy” rating on shares of AcelRx Pharmaceuticals in a research note on Tuesday, August 7th. Five equities research 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 a consensus target price of $5.21.

The company has a market capitalization of $239.37 million, a price-to-earnings ratio of -3.80 and a beta of 2.09. The company has a current ratio of 4.01, a quick ratio of 3.96 and a debt-to-equity ratio of -0.15.

AcelRx Pharmaceuticals (NASDAQ:ACRX) last announced its earnings results on Thursday, August 2nd. The specialty pharmaceutical company reported ($0.20) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.19) by ($0.01). The company had revenue of $0.82 million for the quarter, compared to analysts’ expectations of $0.93 million. equities research analysts predict that AcelRx Pharmaceuticals Inc will post -0.83 EPS for the current year.

In other AcelRx Pharmaceuticals news, insider Pamela P. Palmer purchased 37,000 shares of the business’s stock in a transaction on Monday, August 6th. The shares were purchased at an average cost of $2.75 per share, with a total value of $101,750.00. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Vincent J. Angotti purchased 10,000 shares of the business’s stock in a transaction on Tuesday, August 7th. The shares were acquired at an average cost of $2.90 per share, for a total transaction of $29,000.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 57,300 shares of company stock valued at $159,552. Company insiders own 25.50% of the company’s stock.

A number of large investors have recently modified their holdings of ACRX. GSA Capital Partners LLP bought a new stake in AcelRx Pharmaceuticals during the 1st quarter worth about $113,000. Lincoln Capital Corp bought a new stake in AcelRx Pharmaceuticals during the 2nd quarter worth about $116,000. Granite Investment Partners LLC bought a new stake in AcelRx Pharmaceuticals during the 2nd quarter worth about $182,000. Northern Trust Corp lifted its position in AcelRx Pharmaceuticals by 60.8% during the 1st quarter. Northern Trust Corp now owns 91,481 shares of the specialty pharmaceutical company’s stock worth $192,000 after buying an additional 34,584 shares in the last quarter. Finally, FMR LLC lifted its position in AcelRx Pharmaceuticals by 1,094.6% during the 2nd quarter. FMR LLC now owns 298,644 shares of the specialty pharmaceutical company’s stock worth $1,008,000 after buying an additional 273,644 shares in the last quarter. 8.59% of the stock is currently owned by hedge funds and other institutional investors.

About AcelRx Pharmaceuticals (NASDAQ:ACRX)

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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