AcelRx Pharmaceuticals (ACRX) Upgraded to Hold by Zacks Investment Research

Zacks Investment Research upgraded shares of AcelRx Pharmaceuticals (NASDAQ:ACRX) from a sell rating to a hold rating in a report published on Friday.

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. “

Other equities analysts have also recently issued research reports about the company. Cantor Fitzgerald set a $6.00 price target on AcelRx Pharmaceuticals and gave the stock a buy rating in a report on Monday, October 8th. LADENBURG THALM/SH SH initiated coverage on AcelRx Pharmaceuticals in a report on Thursday, August 16th. They issued a buy rating and a $7.00 price target for the company. HC Wainwright upped their price target on AcelRx Pharmaceuticals from $7.00 to $8.00 and gave the stock a buy rating in a report on Monday, October 15th. Jefferies Financial Group raised AcelRx Pharmaceuticals from a hold rating to a buy rating and set a $8.00 price target for the company in a report on Monday, October 15th. Finally, ValuEngine raised AcelRx Pharmaceuticals from a hold rating to a buy rating in a report on Wednesday, October 24th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock has an average rating of Buy and a consensus price target of $7.93.

NASDAQ ACRX traded up $0.10 during trading hours on Friday, reaching $3.36. The company’s stock had a trading volume of 1,605,626 shares, compared to its average volume of 2,826,499. The stock has a market capitalization of $201.82 million, a price-to-earnings ratio of -3.05 and a beta of 1.81. AcelRx Pharmaceuticals has a 1-year low of $1.65 and a 1-year high of $5.05.

AcelRx Pharmaceuticals (NASDAQ:ACRX) last released its quarterly earnings results on Monday, November 5th. The specialty pharmaceutical company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.01). The company had revenue of $0.38 million during the quarter, compared to the consensus estimate of $1.10 million. As a group, equities analysts anticipate that AcelRx Pharmaceuticals will post -0.86 EPS for the current fiscal year.

In other news, insider Pamela P. Palmer bought 16,000 shares of AcelRx Pharmaceuticals stock in a transaction on Monday, November 19th. The stock was acquired at an average price of $3.07 per share, with a total value of $49,120.00. Following the completion of the acquisition, the insider now directly owns 472,134 shares of the company’s stock, valued at $1,449,451.38. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Mark G. Edwards bought 20,700 shares of AcelRx Pharmaceuticals stock in a transaction on Thursday, November 15th. The shares were purchased at an average cost of $2.82 per share, with a total value of $58,374.00. Following the acquisition, the director now directly owns 181,000 shares of the company’s stock, valued at $510,420. The disclosure for this purchase can be found here. Insiders have acquired 41,700 shares of company stock valued at $123,144 in the last three months. Insiders own 25.50% of the company’s stock.

Several institutional investors have recently made changes to their positions in the business. BlackRock Inc. raised its holdings in shares of AcelRx Pharmaceuticals by 2.7% during the second quarter. BlackRock Inc. now owns 673,115 shares of the specialty pharmaceutical company’s stock valued at $2,271,000 after acquiring an additional 17,737 shares during the last quarter. Cedar Wealth Management LLC increased its holdings in shares of AcelRx Pharmaceuticals by 182.5% in the third quarter. Cedar Wealth Management LLC now owns 33,895 shares of the specialty pharmaceutical company’s stock valued at $130,000 after purchasing an additional 21,895 shares during the last quarter. Lincoln Capital Corp increased its holdings in shares of AcelRx Pharmaceuticals by 83.3% in the third quarter. Lincoln Capital Corp now owns 62,775 shares of the specialty pharmaceutical company’s stock valued at $242,000 after purchasing an additional 28,525 shares during the last quarter. Creative Planning increased its holdings in shares of AcelRx Pharmaceuticals by 256.1% in the third quarter. Creative Planning now owns 45,222 shares of the specialty pharmaceutical company’s stock valued at $174,000 after purchasing an additional 32,522 shares during the last quarter. Finally, Cornerstone Capital Inc. acquired a new stake in shares of AcelRx Pharmaceuticals in the third quarter valued at approximately $154,000. 10.66% of the stock is owned by institutional investors and hedge funds.

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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