AcelRx Pharmaceuticals Inc (ACRX) Sees Large Growth in Short Interest

AcelRx Pharmaceuticals Inc (NASDAQ:ACRX) was the target of a large increase in short interest during the month of January. As of January 31st, there was short interest totalling 11,374,712 shares, an increase of 14.8% from the January 15th total of 9,904,730 shares. Based on an average daily volume of 1,584,320 shares, the short-interest ratio is presently 7.2 days. Currently, 16.8% of the shares of the company are short sold.

Shares of NASDAQ:ACRX remained flat at $$2.51 during trading on Monday. The company’s stock had a trading volume of 742,876 shares, compared to its average volume of 1,477,906. AcelRx Pharmaceuticals has a 12-month low of $1.65 and a 12-month high of $5.05. The stock has a market capitalization of $155.39 million, a P/E ratio of -2.28 and a beta of 1.99.

Several equities analysts have weighed in on the company. HC Wainwright reaffirmed a “buy” rating and issued a $9.00 price objective on shares of AcelRx Pharmaceuticals in a report on Wednesday, December 12th. Cantor Fitzgerald set a $8.00 price objective on AcelRx Pharmaceuticals and gave the company a “buy” rating in a report on Thursday, October 25th. Royal Bank of Canada set a $7.00 price objective on AcelRx Pharmaceuticals and gave the company a “buy” rating in a report on Monday, October 22nd. Zacks Investment Research upgraded AcelRx Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Monday, November 19th. Finally, Jefferies Financial Group upgraded AcelRx Pharmaceuticals from a “hold” rating to a “buy” rating and set a $8.00 price objective on the stock in a research report on Monday, October 15th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $7.89.

In other news, Director Mark G. Edwards purchased 20,700 shares of the company’s stock in a transaction that occurred on Thursday, November 15th. The stock was acquired at an average cost of $2.82 per share, with a total value of $58,374.00. Following the acquisition, the director now owns 181,000 shares in the company, valued at approximately $510,420. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Vincent J. Angotti purchased 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 12th. The shares were purchased at an average cost of $2.99 per share, with a total value of $29,900.00. Following the completion of the acquisition, the chief executive officer now owns 51,040 shares in the company, valued at approximately $152,609.60. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 60,310 shares of company stock valued at $176,980. 25.50% of the stock is currently owned by insiders.

Large investors have recently made changes to their positions in the company. Raymond James & Associates lifted its holdings in AcelRx Pharmaceuticals by 96.7% in the fourth quarter. Raymond James & Associates now owns 29,500 shares of the specialty pharmaceutical company’s stock worth $68,000 after buying an additional 14,500 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of AcelRx Pharmaceuticals by 55.1% during the fourth quarter. Bank of New York Mellon Corp now owns 67,149 shares of the specialty pharmaceutical company’s stock valued at $155,000 after purchasing an additional 23,866 shares during the last quarter. BlackRock Inc. raised its holdings in AcelRx Pharmaceuticals by 196.6% in the 4th quarter. BlackRock Inc. now owns 2,331,736 shares of the specialty pharmaceutical company’s stock worth $5,386,000 after acquiring an additional 1,545,702 shares during the last quarter. Cedar Wealth Management LLC raised its holdings in AcelRx Pharmaceuticals by 36.9% in the 4th quarter. Cedar Wealth Management LLC now owns 46,395 shares of the specialty pharmaceutical company’s stock worth $107,000 after acquiring an additional 12,500 shares during the last quarter. Finally, Vanguard Group Inc raised its holdings in AcelRx Pharmaceuticals by 26.3% in the 3rd quarter. Vanguard Group Inc now owns 2,085,556 shares of the specialty pharmaceutical company’s stock worth $8,030,000 after acquiring an additional 433,969 shares during the last quarter. 10.79% of the stock is currently owned by hedge funds and other institutional investors.

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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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