AcelRx Pharmaceuticals Inc (NASDAQ:ACRX) Director Mark G. Edwards bought 19,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The shares were bought at an average price of $2.99 per share, with a total value of $56,810.00. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website.
ACRX stock traded up $0.02 during trading on Tuesday, hitting $3.09. 3,818,692 shares of the company’s stock traded hands, compared to its average volume of 2,363,269. AcelRx Pharmaceuticals Inc has a 52 week low of $1.99 and a 52 week high of $5.05. The firm has a market capitalization of $190.05 million, a P/E ratio of -2.81 and a beta of 1.99.
AcelRx Pharmaceuticals (NASDAQ:ACRX) last announced its earnings results on Thursday, March 7th. The specialty pharmaceutical company reported ($0.18) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.20) by $0.02. The firm had revenue of $0.61 million during the quarter, compared to analysts’ expectations of $3.10 million. Research analysts anticipate that AcelRx Pharmaceuticals Inc will post -0.83 EPS for the current fiscal year.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Cedar Wealth Management LLC raised its stake in shares of AcelRx Pharmaceuticals by 36.9% in the fourth quarter. Cedar Wealth Management LLC now owns 46,395 shares of the specialty pharmaceutical company’s stock valued at $107,000 after acquiring an additional 12,500 shares during the period. Raymond James & Associates increased its stake in AcelRx Pharmaceuticals by 96.7% in the 4th 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. Northern Trust Corp increased its stake in AcelRx Pharmaceuticals by 15.4% in the 4th quarter. Northern Trust Corp now owns 132,197 shares of the specialty pharmaceutical company’s stock worth $305,000 after buying an additional 17,672 shares during the period. BlackRock Inc. increased its stake in AcelRx Pharmaceuticals by 2.7% in the 2nd quarter. BlackRock Inc. now owns 673,115 shares of the specialty pharmaceutical company’s stock worth $2,271,000 after buying an additional 17,737 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in AcelRx Pharmaceuticals by 55.1% in the 4th quarter. Bank of New York Mellon Corp now owns 67,149 shares of the specialty pharmaceutical company’s stock worth $155,000 after buying an additional 23,866 shares during the period. 16.22% of the stock is currently owned by institutional investors and hedge funds.
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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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