AcelRx Pharmaceuticals Inc. (ACRX) Downgraded to Sell at Zacks Investment Research
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 firms have also recently issued reports on ACRX. Jefferies Group reiterated a buy rating on shares of AcelRx Pharmaceuticals in a report on Friday, June 10th. Cowen and Company reiterated a hold rating on shares of AcelRx Pharmaceuticals in a report on Friday, July 29th. HC Wainwright reiterated a buy rating on shares of AcelRx Pharmaceuticals in a report on Monday, August 1st. Stifel Nicolaus cut shares of AcelRx Pharmaceuticals from a buy rating to a hold rating in a report on Friday, August 5th. Finally, RBC Capital Markets reiterated a positive rating and issued a $6.00 price objective on shares of AcelRx Pharmaceuticals in a report on Tuesday, August 16th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $8.20.
Shares of AcelRx Pharmaceuticals (NASDAQ:ACRX) opened at 3.85 on Tuesday. The firm has a 50-day moving average price of $3.42 and a 200-day moving average price of $3.28. AcelRx Pharmaceuticals has a one year low of $2.40 and a one year high of $5.88. The stock’s market cap is $174.45 million.
AcelRx Pharmaceuticals (NASDAQ:ACRX) last announced its quarterly earnings results on Thursday, July 28th. The specialty pharmaceutical company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.22) by $0.02. AcelRx Pharmaceuticals had a negative net margin of 111.47% and a negative return on equity of 94.98%. The firm earned $4.53 million during the quarter, compared to analyst estimates of $2.17 million. Analysts anticipate that AcelRx Pharmaceuticals will post ($0.91) earnings per share for the current fiscal year.
In other AcelRx Pharmaceuticals news, major shareholder Perceptive Advisors Llc sold 392,850 shares of the stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $3.70, for a total value of $1,453,545.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 27.40% of the stock is currently owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the company. Rhumbline Advisers bought a new stake in AcelRx Pharmaceuticals during the second quarter worth about $103,000. Schwab Charles Investment Management Inc. bought a new stake in AcelRx Pharmaceuticals during the second quarter worth about $155,000. Teachers Advisors Inc. bought a new stake in AcelRx Pharmaceuticals during the second quarter worth about $157,000. California State Teachers Retirement System bought a new stake in AcelRx Pharmaceuticals during the second quarter worth about $200,000. Finally, WealthTrust Axiom LLC increased its stake in AcelRx Pharmaceuticals by 738.7% in the second quarter. WealthTrust Axiom LLC now owns 130,000 shares of the specialty pharmaceutical company’s stock worth $349,000 after buying an additional 114,500 shares during the last quarter. Institutional investors own 35.84% of the company’s stock.
AcelRx Pharmaceuticals Company Profile
AcelRx Pharmaceuticals, Inc is a pharmaceutical company focused on the development and commercialization of therapies for the treatment of moderate-to-severe acute pain. The Company operates through the segment, which includes development and commercialization of product candidates for the treatment of pain.
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