AcelRx Pharmaceuticals, Inc. (ACRX) Given Average Rating of “Hold” by Analysts
Shares of AcelRx Pharmaceuticals, Inc. (NASDAQ:ACRX) have received an average rating of “Hold” from the nine brokerages that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $5.00.
ACRX has been the subject of several research analyst reports. Royal Bank Of Canada set a $6.00 price objective on shares of AcelRx Pharmaceuticals and gave the stock a “buy” rating in a research report on Friday, August 25th. HC Wainwright restated a “buy” rating and issued a $10.00 price objective on shares of AcelRx Pharmaceuticals in a research report on Tuesday, October 3rd. Stifel Nicolaus upgraded shares of AcelRx Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Wednesday, August 9th. Roth Capital set a $13.00 price objective on shares of AcelRx Pharmaceuticals and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. Finally, ValuEngine cut shares of AcelRx Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Friday, September 15th.
AcelRx Pharmaceuticals (NASDAQ ACRX) traded up $0.02 during trading hours on Friday, hitting $1.97. 949,900 shares of the stock were exchanged, compared to its average volume of 1,697,173. AcelRx Pharmaceuticals has a 52 week low of $1.55 and a 52 week high of $5.75. The company has a debt-to-equity ratio of -0.47, a current ratio of 4.92 and a quick ratio of 4.81.
In other news, insider Pamela P. Palmer bought 10,000 shares of the company’s stock in a transaction dated Tuesday, August 22nd. The shares were bought at an average cost of $2.95 per share, with a total value of $29,500.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Lawrence G. Hamel sold 10,161 shares of the company’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $5.29, for a total transaction of $53,751.69. Following the completion of the sale, the insider now directly owns 16,379 shares in the company, valued at $86,644.91. The disclosure for this sale can be found here. Insiders have acquired a total of 37,000 shares of company stock worth $112,280 over the last three months. Insiders own 28.10% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Goldman Sachs Group Inc. acquired a new position in AcelRx Pharmaceuticals in the 2nd quarter valued at about $530,000. WealthTrust Axiom LLC grew its stake in AcelRx Pharmaceuticals by 50.0% in the 2nd 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 during the last quarter. LMR Partners LLP acquired a new position in AcelRx Pharmaceuticals in the 2nd quarter valued at about $319,000. Virtu KCG Holdings LLC grew its position in shares of AcelRx Pharmaceuticals by 600.9% during the 2nd quarter. Virtu KCG Holdings LLC now owns 118,675 shares of the specialty pharmaceutical company’s stock worth $255,000 after purchasing an additional 101,742 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of AcelRx Pharmaceuticals by 6.6% during the 1st quarter. Bank of New York Mellon Corp now owns 112,682 shares of the specialty pharmaceutical company’s stock worth $355,000 after purchasing an additional 6,942 shares in the last quarter. Institutional investors and hedge funds own 23.52% 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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