AcelRx Pharmaceuticals Inc (NASDAQ:ACRX) has earned a consensus recommendation of “Buy” from the nine brokerages that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $8.33.
Several equities analysts have recently issued reports on ACRX shares. Jefferies Financial Group upgraded AcelRx Pharmaceuticals from a “hold” rating to a “buy” rating and set a $8.00 price objective for the company in a research note on Monday, October 15th. Cantor Fitzgerald set a $6.00 price objective on AcelRx Pharmaceuticals and gave the company a “buy” rating in a research note on Monday, October 8th. Zacks Investment Research upgraded AcelRx Pharmaceuticals from a “hold” rating to a “buy” rating and set a $3.50 price objective for the company in a research note on Friday, October 5th. Royal Bank of Canada set a $7.00 price objective on AcelRx Pharmaceuticals and gave the company a “buy” rating in a research note on Monday, October 22nd. Finally, Oppenheimer reiterated a “hold” rating on shares of AcelRx Pharmaceuticals in a research note on Tuesday, October 9th.
Shares of ACRX traded up $0.65 during midday trading on Friday, hitting $4.80. The company had a trading volume of 20,046,594 shares, compared to its average volume of 5,929,217. The stock has a market capitalization of $290.88 million, a PE ratio of -4.36 and a beta of 2.03. AcelRx Pharmaceuticals has a 1 year low of $1.65 and a 1 year high of $5.05.
In other AcelRx Pharmaceuticals news, CEO Vincent J. Angotti bought 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 7th. The stock was purchased at an average price of $2.90 per share, for a total transaction of $29,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Badri N. Dasu sold 28,351 shares of the business’s stock in a transaction that occurred on Monday, October 15th. The stock was sold at an average price of $5.00, for a total value of $141,755.00. Following the sale, the insider now owns 54,061 shares of the company’s stock, valued at approximately $270,305. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 57,300 shares of company stock valued at $159,552. 25.50% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. GSA Capital Partners LLP acquired a new position in AcelRx Pharmaceuticals during the first quarter worth approximately $113,000. Lincoln Capital Corp acquired a new position in AcelRx Pharmaceuticals during the second quarter worth approximately $116,000. Creative Planning increased its position in AcelRx Pharmaceuticals by 256.1% during the third quarter. Creative Planning now owns 45,222 shares of the specialty pharmaceutical company’s stock worth $174,000 after buying an additional 32,522 shares during the period. Granite Investment Partners LLC acquired a new position in AcelRx Pharmaceuticals during the second quarter worth approximately $182,000. Finally, Northern Trust Corp increased its position in AcelRx Pharmaceuticals by 60.8% during the first 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 during the period. 8.56% of the stock is currently owned by institutional investors.
AcelRx Pharmaceuticals Company Profile
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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