AcelRx Pharmaceuticals Inc. (NASDAQ:ACRX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Wednesday.

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 research analysts also recently issued reports about the stock. Roth Capital set a $15.00 price objective on shares of AcelRx Pharmaceuticals and gave the stock a “buy” rating in a research report on Saturday. Jefferies Group reissued a “buy” rating and set a $7.00 price objective on shares of AcelRx Pharmaceuticals in a research report on Tuesday, October 4th. HC Wainwright restated a “buy” rating and issued a $7.00 target price on shares of AcelRx Pharmaceuticals in a research note on Wednesday, September 28th. Stifel Nicolaus cut shares of AcelRx Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, August 5th. Finally, Cowen and Company restated a “hold” rating on shares of AcelRx Pharmaceuticals in a research note on Friday, July 29th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. AcelRx Pharmaceuticals currently has a consensus rating of “Buy” and a consensus price target of $8.20.

Analyst Recommendations for AcelRx Pharmaceuticals (NASDAQ:ACRX)

AcelRx Pharmaceuticals (NASDAQ:ACRX) traded down 7.58% during mid-day trading on Wednesday, hitting $3.05. 221,371 shares of the stock were exchanged. The company has a 50-day moving average price of $3.49 and a 200-day moving average price of $3.33. AcelRx Pharmaceuticals has a one year low of $2.40 and a one year high of $5.88. The company’s market cap is $138.20 million.

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 the Thomson Reuters’ 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 business had revenue of $4.53 million for the quarter, compared to analysts’ expectations of $2.17 million. Analysts forecast that AcelRx Pharmaceuticals will post ($0.93) earnings per share for the current fiscal year.

In related news, major shareholder Perceptive Advisors Llc sold 216,500 shares of the firm’s stock in a transaction dated Thursday, September 29th. The shares were sold at an average price of $3.92, for a total value of $848,680.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 27.40% of the stock is currently owned by corporate insiders.

Several hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC boosted its stake 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. Nippon Life Insurance Co. bought a new stake in shares of AcelRx Pharmaceuticals during the second quarter valued at approximately $2,247,000. Rhumbline Advisers bought a new stake in shares of AcelRx Pharmaceuticals during the second quarter valued at approximately $103,000. Schwab Charles Investment Management Inc. bought a new stake in shares of AcelRx Pharmaceuticals during the second quarter valued at approximately $155,000. Finally, Teachers Advisors Inc. bought a new stake in shares of AcelRx Pharmaceuticals during the second quarter valued at approximately $157,000. Hedge funds and other institutional investors own 35.85% 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.

5 Day Chart for NASDAQ:ACRX

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