AcelRx Pharmaceuticals, Inc. (NASDAQ:ACRX) had its price objective lowered by Royal Bank Of Canada from $6.00 to $5.00 in a research report issued on Friday. The brokerage currently has an “outperform” rating on the specialty pharmaceutical company’s stock. Royal Bank Of Canada’s price objective points to a potential upside of 132.56% from the company’s current price.
A number of other research firms also recently weighed in on ACRX. HC Wainwright restated a “buy” rating and set a $10.00 price target on shares of AcelRx Pharmaceuticals in a research report on Tuesday, October 3rd. Roth Capital set a $8.00 price target on AcelRx Pharmaceuticals and gave the company a “buy” rating in a research report on Thursday. Piper Jaffray Companies set a $3.00 price target on AcelRx Pharmaceuticals and gave the company 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. Finally, Cowen and Company restated a “hold” rating on shares of AcelRx Pharmaceuticals in a research report on Tuesday, August 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $7.83.
AcelRx Pharmaceuticals (NASDAQ ACRX) opened at 2.15 on Friday. The stock’s 50 day moving average price is $3.80 and its 200-day moving average price is $2.97. The firm’s market cap is $97.57 million. AcelRx Pharmaceuticals has a 12-month low of $1.95 and a 12-month high of $5.75.
AcelRx Pharmaceuticals (NASDAQ:ACRX) last released its quarterly earnings results on Tuesday, August 1st. The specialty pharmaceutical company reported ($0.29) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.28) by ($0.01). The business had revenue of $2.66 million during the quarter, compared to analyst estimates of $2.63 million. Equities research analysts anticipate that AcelRx Pharmaceuticals will post ($1.13) earnings per share for the current fiscal year.
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In other AcelRx Pharmaceuticals news, insider Pamela P. Palmer purchased 10,000 shares of AcelRx Pharmaceuticals stock in a transaction that occurred on Tuesday, August 22nd. The shares were bought at an average price of $2.95 per share, for a total transaction of $29,500.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Lawrence G. Hamel sold 10,161 shares of the business’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $5.29, for a total value of $53,751.69. Following the transaction, the insider now owns 16,379 shares in the company, valued at approximately $86,644.91. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 37,000 shares of company stock worth $112,280. 28.10% of the stock is owned by company insiders.
A number of large investors have recently made changes to their positions in ACRX. Teachers Advisors LLC increased its holdings in AcelRx Pharmaceuticals by 14.6% during the 4th quarter. Teachers Advisors LLC now owns 66,715 shares of the specialty pharmaceutical company’s stock valued at $173,000 after purchasing an additional 8,475 shares during the period. Bank of New York Mellon Corp increased its holdings in AcelRx Pharmaceuticals by 6.6% during the 1st quarter. Bank of New York Mellon Corp now owns 112,682 shares of the specialty pharmaceutical company’s stock valued at $355,000 after purchasing an additional 6,942 shares during the period. WealthTrust Axiom LLC increased its holdings in AcelRx Pharmaceuticals by 50.0% during the 2nd quarter. WealthTrust Axiom LLC now owns 210,000 shares of the specialty pharmaceutical company’s stock valued at $451,000 after purchasing an additional 70,000 shares during the period. LMR Partners LLP purchased a new position in AcelRx Pharmaceuticals during the 2nd quarter valued at about $319,000. Finally, Virtu KCG Holdings LLC increased its holdings in AcelRx Pharmaceuticals by 600.9% during the 2nd quarter. Virtu KCG Holdings LLC now owns 118,675 shares of the specialty pharmaceutical company’s stock valued at $255,000 after purchasing an additional 101,742 shares during the period. Institutional investors own 23.32% of the company’s stock.
About AcelRx Pharmaceuticals
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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