AcelRx Pharmaceuticals, Inc. (ACRX) CEO Buys $45,000.00 in Stock
AcelRx Pharmaceuticals, Inc. (NASDAQ:ACRX) CEO Vincent J. Angotti purchased 15,000 shares of the stock in a transaction that occurred on Thursday, August 24th. The stock was acquired at an average cost of $3.00 per share, with a total value of $45,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 15,000 shares of the company’s stock, valued at $45,000. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.
Shares of AcelRx Pharmaceuticals, Inc. (NASDAQ:ACRX) traded down 0.84% during midday trading on Friday, reaching $2.95. The company’s stock had a trading volume of 1,136,886 shares. The company’s 50-day moving average price is $2.99 and its 200 day moving average price is $2.80. The firm’s market capitalization is $133.87 million. AcelRx Pharmaceuticals, Inc. has a 1-year low of $1.95 and a 1-year high of $4.08.
AcelRx Pharmaceuticals (NASDAQ:ACRX) last issued its quarterly earnings results on Tuesday, August 1st. The specialty pharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by $0.01. AcelRx Pharmaceuticals had a negative net margin of 319.19% and a negative return on equity of 478.66%. The firm had revenue of $2.66 million for the quarter, compared to the consensus estimate of $2.63 million. On average, equities research analysts forecast that AcelRx Pharmaceuticals, Inc. will post ($1.13) earnings per share for the current year.
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Institutional investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. purchased a new position in shares of AcelRx Pharmaceuticals during the second quarter valued at about $530,000. Virtu KCG Holdings LLC raised its position in shares of AcelRx Pharmaceuticals by 600.9% in the second quarter. Virtu KCG Holdings LLC now owns 118,675 shares of the specialty pharmaceutical company’s stock valued at $255,000 after buying an additional 101,742 shares in the last quarter. LMR Partners LLP purchased a new position in shares of AcelRx Pharmaceuticals during the second quarter valued at about $319,000. WealthTrust Axiom LLC raised its position in shares of AcelRx Pharmaceuticals by 50.0% in the second quarter. WealthTrust Axiom LLC now owns 210,000 shares of the specialty pharmaceutical company’s stock valued at $451,000 after buying an additional 70,000 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of AcelRx Pharmaceuticals by 6.6% in the first quarter. Bank of New York Mellon Corp now owns 112,682 shares of the specialty pharmaceutical company’s stock valued at $355,000 after buying an additional 6,942 shares in the last quarter. Hedge funds and other institutional investors own 30.37% of the company’s stock.
A number of brokerages have weighed in on ACRX. Cowen and Company reiterated a “hold” rating on shares of AcelRx Pharmaceuticals in a research note on Tuesday, August 1st. Roth Capital reiterated a “buy” rating and issued a $12.50 price objective on shares of AcelRx Pharmaceuticals in a research note on Thursday, August 10th. Zacks Investment Research upgraded AcelRx Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Friday, August 4th. Royal Bank Of Canada set a $6.00 price objective on AcelRx Pharmaceuticals and gave the company a “buy” rating in a research note on Friday. Finally, ValuEngine cut AcelRx Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. One 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 stock presently has a consensus rating of “Hold” and an average price target of $7.50.
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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