Insider Buying: AcelRx Pharmaceuticals Inc (ACRX) CFO Acquires 5,000 Shares of Stock
AcelRx Pharmaceuticals Inc (NASDAQ:ACRX) CFO Raffi Asadorian bought 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 13th. The stock was bought at an average price of $3.13 per share, for a total transaction of $15,650.00. Following the completion of the acquisition, the chief financial officer now directly owns 47,000 shares in the company, valued at $147,110. The transaction was disclosed in a legal filing with the SEC, which is available through this link.
Shares of ACRX stock traded down $0.16 on Thursday, reaching $2.84. 40,245 shares of the company’s stock traded hands, compared to its average volume of 1,415,891. AcelRx Pharmaceuticals Inc has a 12-month low of $1.65 and a 12-month high of $5.05. The company has a market capitalization of $201.20 million, a price-to-earnings ratio of -2.57 and a beta of 2.03.
AcelRx Pharmaceuticals (NASDAQ:ACRX) last issued its quarterly earnings results on Monday, November 5th. The specialty pharmaceutical company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.01). The firm had revenue of $0.38 million during the quarter, compared to analyst estimates of $1.10 million. On average, analysts anticipate that AcelRx Pharmaceuticals Inc will post -0.86 EPS for the current fiscal year.
A number of equities analysts recently issued reports on ACRX shares. Cantor Fitzgerald lifted their target price on AcelRx Pharmaceuticals from $8.00 to $9.00 and gave the stock an “overweight” rating in a report on Monday, November 5th. Zacks Investment Research upgraded AcelRx Pharmaceuticals from a “hold” rating to a “buy” rating and set a $3.50 target price on the stock in a report on Friday, October 5th. LADENBURG THALM/SH SH set a $10.00 price target on AcelRx Pharmaceuticals and gave the company a “buy” rating in a report on Friday, November 2nd. B. Riley began coverage on AcelRx Pharmaceuticals in a report on Tuesday, October 23rd. They set a “buy” rating and a $9.00 price target on the stock. Finally, ValuEngine upgraded AcelRx Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Wednesday, October 24th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $7.93.
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AcelRx Pharmaceuticals Company Profile
AcelRx Pharmaceuticals, Inc, a specialty pharmaceutical company, focuses on the development and commercialization of therapies for the treatment of acute pain. Its lead product candidate is DSUVIA, a 30 mcg sufentanil sublingual tablet for the treatment of moderate-to-severe acute pain. The company also develops ZALVISO, a pre-programmed and patient-controlled analgesia system that allows hospital patients with moderate-to-severe acute pain to self-dose with sufentanil sublingual tablets to manage their pain.
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