AcelRx Pharmaceuticals (ACRX) Sets New 1-Year High at $5.05

Shares of AcelRx Pharmaceuticals Inc (NASDAQ:ACRX) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $5.05 and last traded at $4.80, with a volume of 19959838 shares. The stock had previously closed at $4.15.

ACRX has been the topic of several recent analyst reports. Zacks Investment Research upgraded AcelRx Pharmaceuticals from a “hold” rating to a “buy” rating and set a $4.00 price objective on the stock in a report on Tuesday, July 10th. Cantor Fitzgerald restated a “buy” rating and set a $6.00 price objective on shares of AcelRx Pharmaceuticals in a report on Thursday, August 2nd. HC Wainwright restated a “buy” rating on shares of AcelRx Pharmaceuticals in a report on Tuesday, August 7th. LADENBURG THALM/SH SH initiated coverage on AcelRx Pharmaceuticals in a report on Thursday, August 16th. They set a “buy” rating and a $7.00 price objective on the stock. 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 report on Monday, October 15th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $7.64.

AcelRx Pharmaceuticals (NASDAQ:ACRX) last issued its earnings results on Friday, November 2nd. The specialty pharmaceutical company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.01). The firm had revenue of $0.38 million during the quarter, compared to the consensus estimate of $1.10 million. Equities analysts expect that AcelRx Pharmaceuticals Inc will post -0.82 EPS for the current fiscal year.

In other AcelRx Pharmaceuticals news, insider Pamela P. Palmer bought 37,000 shares of the company’s stock in a transaction dated Monday, August 6th. The shares were bought at an average price of $2.75 per share, for a total transaction of $101,750.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Badri N. Dasu sold 28,351 shares of the company’s stock in a transaction dated Monday, October 15th. The shares were sold at an average price of $5.00, for a total value of $141,755.00. Following the completion of the transaction, the insider now owns 54,061 shares in the company, valued at approximately $270,305. The disclosure for this sale can be found here. Insiders bought a total of 57,300 shares of company stock worth $159,552 in the last quarter. 25.50% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. Lincoln Capital Corp acquired a new position in shares of AcelRx Pharmaceuticals in the 2nd quarter valued at about $116,000. Creative Planning increased its holdings in shares of AcelRx Pharmaceuticals by 256.1% in the 3rd 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 period. Granite Investment Partners LLC acquired a new position in shares of AcelRx Pharmaceuticals in the 2nd quarter valued at about $182,000. Northern Trust Corp increased its holdings in shares of AcelRx Pharmaceuticals by 60.8% in the 1st quarter. Northern Trust Corp now owns 91,481 shares of the specialty pharmaceutical company’s stock valued at $192,000 after purchasing an additional 34,584 shares during the period. Finally, FMR LLC increased its holdings in shares of AcelRx Pharmaceuticals by 1,094.6% in the 2nd quarter. FMR LLC now owns 298,644 shares of the specialty pharmaceutical company’s stock valued at $1,008,000 after purchasing an additional 273,644 shares during the period. Institutional investors own 8.56% of the company’s stock.

About AcelRx Pharmaceuticals (NASDAQ:ACRX)

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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