AcelRx Pharmaceuticals, Inc. (NASDAQ:ACRX) shares saw strong trading volume on Friday . 2,395,779 shares changed hands during trading, an increase of 102% from the previous session’s volume of 1,187,550 shares.The stock last traded at $3.30 and had previously closed at $3.25.
Several equities analysts have recently issued reports on the company. Piper Jaffray Companies set a $3.00 target price on AcelRx Pharmaceuticals and gave the stock a “hold” rating in a research report on Tuesday, July 25th. ValuEngine upgraded AcelRx Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Monday, July 24th. Roth Capital set a $13.00 target price on AcelRx Pharmaceuticals and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. Cowen and Company restated a “hold” rating on shares of AcelRx Pharmaceuticals in a research report on Tuesday, August 1st. Finally, Royal Bank Of Canada set a $6.00 target price on AcelRx Pharmaceuticals and gave the stock a “buy” rating in a research report on Friday, August 25th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company’s stock. AcelRx Pharmaceuticals currently has an average rating of “Hold” and an average price target of $7.50.
The firm’s market capitalization is $149.75 million. The stock’s 50-day moving average is $3.18 and its 200 day moving average is $2.81.
AcelRx Pharmaceuticals (NASDAQ:ACRX) last issued its quarterly earnings data on Tuesday, August 1st. The specialty pharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.28) by $0.01. AcelRx Pharmaceuticals had a negative return on equity of 478.66% and a negative net margin of 319.19%. The company had revenue of $2.66 million for the quarter, compared to the consensus estimate of $2.63 million. Equities research analysts anticipate that AcelRx Pharmaceuticals, Inc. will post ($1.13) earnings per share for the current fiscal year.
In other AcelRx Pharmaceuticals news, insider Pamela P. Palmer bought 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was acquired at an average price of $2.95 per share, with a total value of $29,500.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Vincent J. Angotti bought 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 24th. The shares were acquired at an average cost of $3.00 per share, with a total value of $45,000.00. Following the purchase, the chief executive officer now directly owns 15,000 shares of the company’s stock, valued at $45,000. The disclosure for this purchase can be found here. Insiders have bought 30,000 shares of company stock valued at $89,600 over the last 90 days. 28.10% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp grew its stake in AcelRx Pharmaceuticals by 6.6% during the first quarter. Bank of New York Mellon Corp now owns 112,682 shares of the specialty pharmaceutical company’s stock worth $355,000 after purchasing an additional 6,942 shares during the period. Teachers Advisors LLC grew its stake in AcelRx Pharmaceuticals by 14.6% during the fourth quarter. Teachers Advisors LLC now owns 66,715 shares of the specialty pharmaceutical company’s stock worth $173,000 after purchasing an additional 8,475 shares during the period. ING Groep NV grew its stake in AcelRx Pharmaceuticals by 200.0% during the first quarter. ING Groep NV now owns 39,000 shares of the specialty pharmaceutical company’s stock worth $123,000 after purchasing an additional 26,000 shares during the period. Acadian Asset Management LLC grew its stake in AcelRx Pharmaceuticals by 326.1% during the first quarter. Acadian Asset Management LLC now owns 41,927 shares of the specialty pharmaceutical company’s stock worth $132,000 after purchasing an additional 32,087 shares during the period. Finally, WealthTrust Axiom LLC grew its stake in AcelRx Pharmaceuticals by 50.0% during the second quarter. WealthTrust Axiom LLC now owns 210,000 shares of the specialty pharmaceutical company’s stock worth $451,000 after purchasing an additional 70,000 shares during the period. 23.32% of the stock is owned by institutional investors and hedge funds.
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AcelRx Pharmaceuticals Company Profile
AcelRx Pharmaceuticals, Inc is a pharmaceutical company focused on the development and commercialization of therapies for the treatment of moderate-to-severe acute pain. The Company operates through the segment, which includes development and commercialization of product candidates for the treatment of pain.
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