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

AcelRx Pharmaceuticals (NASDAQ:ACRX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Monday.

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. “

Several other research analysts have also recently weighed in on ACRX. Cantor Fitzgerald restated a “buy” rating and issued a $6.00 price target on shares of AcelRx Pharmaceuticals in a research note on Thursday, August 2nd. Oppenheimer restated a “hold” rating on shares of AcelRx Pharmaceuticals in a research note on Friday, August 3rd. HC Wainwright restated a “buy” rating on shares of AcelRx Pharmaceuticals in a research note on Tuesday, August 7th. LADENBURG THALM/SH SH initiated coverage on AcelRx Pharmaceuticals in a research note on Thursday, August 16th. They issued a “buy” rating and a $7.00 price target for the company. Finally, Jefferies Financial Group upgraded AcelRx Pharmaceuticals from a “hold” rating to a “buy” rating and set a $8.00 price target for the company in a research note on Monday, October 15th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $7.93.

NASDAQ:ACRX traded up $0.17 during trading hours on Monday, reaching $3.10. 2,562,602 shares of the company traded hands, compared to its average volume of 4,802,693. The stock has a market capitalization of $181.39 million, a price-to-earnings ratio of -2.82 and a beta of 2.03. AcelRx Pharmaceuticals has a 1 year low of $1.65 and a 1 year high of $5.05.

AcelRx Pharmaceuticals (NASDAQ:ACRX) last announced its quarterly earnings data on Monday, November 5th. The specialty pharmaceutical company reported ($0.21) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.20) by ($0.01). The business had revenue of $0.38 million during the quarter, compared to analyst estimates of $1.10 million. Sell-side analysts predict that AcelRx Pharmaceuticals will post -0.86 EPS for the current fiscal year.

In related news, insider Lawrence G. Hamel sold 6,953 shares of the company’s stock in a transaction on Monday, September 24th. The stock was sold at an average price of $4.50, for a total transaction of $31,288.50. Following the completion of the sale, the insider now owns 24,371 shares in the company, valued at $109,669.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Mark G. Edwards acquired 20,700 shares of AcelRx Pharmaceuticals stock in a transaction that occurred on Thursday, November 15th. The shares were purchased at an average price of $2.82 per share, with a total value of $58,374.00. Following the transaction, the director now owns 181,000 shares of the company’s stock, valued at approximately $510,420. The disclosure for this purchase can be found here. 25.50% of the stock is owned by insiders.

A number of institutional investors have recently bought and sold shares of ACRX. Lincoln Capital Corp purchased a new stake in AcelRx Pharmaceuticals during the second quarter valued at $116,000. Cedar Wealth Management LLC increased its position in AcelRx Pharmaceuticals by 182.5% during the third quarter. Cedar Wealth Management LLC now owns 33,895 shares of the specialty pharmaceutical company’s stock valued at $130,000 after acquiring an additional 21,895 shares during the last quarter. Cornerstone Capital Inc. purchased a new stake in AcelRx Pharmaceuticals during the third quarter valued at $154,000. Creative Planning increased its position in AcelRx Pharmaceuticals by 256.1% during the third quarter. Creative Planning now owns 45,222 shares of the specialty pharmaceutical company’s stock valued at $174,000 after acquiring an additional 32,522 shares during the last quarter. Finally, Granite Investment Partners LLC purchased a new stake in AcelRx Pharmaceuticals during the second quarter valued at $182,000. Institutional investors own 9.69% of the company’s stock.

AcelRx Pharmaceuticals Company Profile

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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