AcelRx Pharmaceuticals’ (ACRX) Buy Rating Reaffirmed at Jefferies Group
Jefferies Group reissued their buy rating on shares of AcelRx Pharmaceuticals Inc. (NASDAQ:ACRX) in a research note issued to investors on Tuesday. They currently have a $7.00 price target on the specialty pharmaceutical company’s stock.
Other analysts have also recently issued research reports about the company. Cowen and Company reissued a hold rating on shares of AcelRx Pharmaceuticals in a report on Friday, July 29th. RBC Capital Markets reissued a positive rating and set a $6.00 price objective on shares of AcelRx Pharmaceuticals in a report on Tuesday, August 16th. Stifel Nicolaus cut AcelRx Pharmaceuticals from a buy rating to a hold rating in a report on Friday, August 5th. HC Wainwright reissued a buy rating on shares of AcelRx Pharmaceuticals in a report on Monday, August 1st. Finally, Roth Capital upped their target price on AcelRx Pharmaceuticals from $11.25 to $15.00 and gave the stock a buy rating in a research note on Thursday, September 15th. One equities research 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. The company currently has an average rating of Hold and a consensus price target of $8.20.
Shares of AcelRx Pharmaceuticals (NASDAQ:ACRX) opened at 3.83 on Tuesday. AcelRx Pharmaceuticals has a 52 week low of $2.40 and a 52 week high of $5.88. The firm’s market cap is $173.54 million. The stock has a 50 day moving average of $3.45 and a 200 day moving average of $3.30.
AcelRx Pharmaceuticals (NASDAQ:ACRX) last issued its quarterly earnings data on Thursday, July 28th. The specialty pharmaceutical company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by $0.02. The company had revenue of $4.53 million for the quarter, compared to analysts’ expectations of $2.17 million. AcelRx Pharmaceuticals had a negative return on equity of 94.98% and a negative net margin of 111.47%. Analysts anticipate that AcelRx Pharmaceuticals will post ($0.91) earnings per share for the current fiscal year.
In other news, major shareholder Perceptive Advisors Llc sold 216,500 shares of the stock in a transaction dated Thursday, September 29th. The stock was sold at an average price of $3.92, for a total transaction of $848,680.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 27.40% of the company’s stock.
Several institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC raised its position in shares of 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 raised 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 period. Bank of New York Mellon Corp raised 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 period. 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. Hedge funds and other 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.
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