AcelRx Pharmaceuticals (NASDAQ:ACRX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday, Zacks.com reports. The brokerage presently has a $3.25 target price on the specialty pharmaceutical company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 16.07% from the company’s current price.
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. “
Other equities research analysts also recently issued reports about the company. B. Riley assumed coverage on AcelRx Pharmaceuticals in a research note on Wednesday, April 24th. They issued a “buy” rating and a $6.50 price objective for the company. BidaskClub raised AcelRx Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Monday, April 1st. ValuEngine downgraded AcelRx Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Thursday, May 9th. LADENBURG THALM/SH SH reissued a “buy” rating and issued a $10.00 price objective on shares of AcelRx Pharmaceuticals in a research note on Thursday, May 9th. Finally, Credit Suisse Group assumed coverage on AcelRx Pharmaceuticals in a research note on Friday, February 15th. They issued an “outperform” rating and a $7.00 price objective for the company. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $7.47.
Shares of NASDAQ:ACRX traded down $0.10 during midday trading on Thursday, reaching $2.80. The company had a trading volume of 39,509 shares, compared to its average volume of 2,113,372. The company has a quick ratio of 4.91, a current ratio of 5.03 and a debt-to-equity ratio of 0.79. AcelRx Pharmaceuticals has a 1-year low of $1.99 and a 1-year high of $5.05. The firm has a market capitalization of $228.84 million, a price-to-earnings ratio of -3.46 and a beta of 2.16.
AcelRx Pharmaceuticals (NASDAQ:ACRX) last released its quarterly earnings results on Wednesday, May 8th. The specialty pharmaceutical company reported ($0.17) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.23) by $0.06. The company had revenue of $0.27 million during the quarter, compared to analyst estimates of $0.85 million. Equities analysts predict that AcelRx Pharmaceuticals will post -0.84 earnings per share for the current year.
In other news, Director Mark G. Edwards purchased 19,000 shares of the business’s stock in a transaction dated Tuesday, March 12th. The stock was bought at an average cost of $2.99 per share, with a total value of $56,810.00. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Insiders have bought a total of 26,721 shares of company stock valued at $78,506 over the last ninety days. Company insiders own 7.50% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. Monashee Investment Management LLC raised its stake in shares of AcelRx Pharmaceuticals by 1,516.8% during the 4th quarter. Monashee Investment Management LLC now owns 1,652,190 shares of the specialty pharmaceutical company’s stock worth $3,817,000 after purchasing an additional 1,550,000 shares in the last quarter. BlackRock Inc. raised its stake in shares of AcelRx Pharmaceuticals by 16.8% in the 3rd quarter. BlackRock Inc. now owns 786,034 shares of the specialty pharmaceutical company’s stock valued at $3,026,000 after acquiring an additional 112,919 shares in the last quarter. Two Sigma Advisers LP bought a new position in shares of AcelRx Pharmaceuticals in the 4th quarter valued at approximately $89,000. Vanguard Group Inc raised its stake in shares of AcelRx Pharmaceuticals by 26.3% in the 3rd quarter. Vanguard Group Inc now owns 2,085,556 shares of the specialty pharmaceutical company’s stock valued at $8,030,000 after acquiring an additional 433,969 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of AcelRx Pharmaceuticals by 26.3% in the 3rd quarter. Vanguard Group Inc. now owns 2,085,556 shares of the specialty pharmaceutical company’s stock valued at $8,030,000 after acquiring an additional 433,969 shares in the last quarter. 15.69% of the stock is owned by institutional investors.
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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