AcelRx Pharmaceuticals Inc. (ACRX) Rating Reiterated by HC Wainwright
AcelRx Pharmaceuticals Inc. (NASDAQ:ACRX)‘s stock had its “buy” rating reissued by equities researchers at HC Wainwright in a research note issued to investors on Wednesday. They presently have a $7.00 target price on the specialty pharmaceutical company’s stock. HC Wainwright’s price target would indicate a potential upside of 88.17% from the stock’s previous close.
Several other research firms have also recently commented on ACRX. Roth Capital raised their target price on shares of AcelRx Pharmaceuticals from $11.25 to $15.00 and gave the company a “buy” rating in a research note on Thursday, September 15th. Jefferies Group reissued a “buy” rating on shares of AcelRx Pharmaceuticals in a research note on Friday, June 10th. Stifel Nicolaus cut shares of AcelRx Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, August 5th. Zacks Investment Research cut shares of AcelRx Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday. Finally, Cowen and Company reissued a “hold” rating on shares of AcelRx Pharmaceuticals in a research note on Friday, July 29th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. AcelRx Pharmaceuticals presently has a consensus rating of “Hold” and a consensus target price of $8.20.
AcelRx Pharmaceuticals (NASDAQ:ACRX) opened at 3.72 on Wednesday. AcelRx Pharmaceuticals has a 52-week low of $2.40 and a 52-week high of $5.88. The firm’s market cap is $168.56 million. The stock has a 50 day moving average of $3.43 and a 200-day moving average of $3.29.
AcelRx Pharmaceuticals (NASDAQ:ACRX) last released its quarterly earnings data on Thursday, July 28th. The specialty pharmaceutical company reported ($0.24) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.22) by $0.02. AcelRx Pharmaceuticals had a negative return on equity of 94.98% and a negative net margin of 111.47%. The firm earned $4.53 million during the quarter, compared to analyst estimates of $2.17 million. On average, analysts expect that AcelRx Pharmaceuticals will post ($0.91) EPS for the current year.
In other news, major shareholder Perceptive Advisors Llc sold 392,850 shares of the firm’s stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $3.70, for a total transaction of $1,453,545.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 27.40% of the company’s stock.
Several institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC raised its position in AcelRx Pharmaceuticals by 3.3% in the first quarter. Geode Capital Management LLC now owns 170,734 shares of the specialty pharmaceutical company’s stock valued at $525,000 after buying an additional 5,427 shares during the period. WealthTrust Axiom LLC boosted its position in shares of AcelRx Pharmaceuticals by 738.7% in the second quarter. WealthTrust Axiom LLC now owns 130,000 shares of the specialty pharmaceutical company’s stock valued at $349,000 after buying an additional 114,500 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of AcelRx Pharmaceuticals by 142.4% in the second quarter. Bank of New York Mellon Corp now owns 145,477 shares of the specialty pharmaceutical company’s stock valued at $391,000 after buying an additional 85,459 shares during the last quarter. California State Teachers Retirement System purchased a new position in shares of AcelRx Pharmaceuticals during the second quarter valued at approximately $200,000. Finally, Nippon Life Insurance Co. purchased a new position in shares of AcelRx Pharmaceuticals during the second quarter valued at approximately $2,247,000. Institutional investors own 35.84% of the company’s stock.
About AcelRx Pharmaceuticals
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.
Receive News & Stock Ratings for AcelRx Pharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AcelRx Pharmaceuticals Inc. and related stocks with our FREE daily email newsletter.