AcelRx Pharmaceuticals Inc (ACRX) Director Mark G. Edwards Acquires 19,000 Shares

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.

A number of equities analysts recently weighed in on ACRX shares. Cantor Fitzgerald set a $9.00 target price on shares of AcelRx Pharmaceuticals and gave the stock a “buy” rating in a research report on Tuesday, January 29th. Credit Suisse Group started coverage on shares of AcelRx Pharmaceuticals in a research report on Friday, February 15th. They set an “outperform” rating and a $7.00 target price for the company. LADENBURG THALM/SH SH set a $10.00 target price on shares of AcelRx Pharmaceuticals and gave the stock a “buy” rating in a research report on Friday. Oppenheimer restated a “hold” rating on shares of AcelRx Pharmaceuticals in a research report on Tuesday, December 11th. Finally, HC Wainwright restated a “buy” rating and set a $9.00 target price on shares of AcelRx Pharmaceuticals in a research report on Wednesday, December 12th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $7.78.

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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