AcelRx Pharmaceuticals, Inc. (NASDAQ:ACRX) was down 59.8% on Thursday . The company traded as low as $2.00 and last traded at $2.15. Approximately 24,236,722 shares changed hands during mid-day trading, an increase of 1,211% from the average daily volume of 1,849,080 shares. The stock had previously closed at $5.35.
A number of equities research analysts have weighed in on ACRX shares. Jefferies Group LLC reiterated a “buy” rating and issued a $7.00 price objective on shares of AcelRx Pharmaceuticals in a research note on Friday, July 14th. 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, August 25th. 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. Stifel Nicolaus upgraded AcelRx Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Wednesday, August 9th. Finally, HC Wainwright reiterated a “buy” rating and issued a $7.00 price objective on shares of AcelRx Pharmaceuticals in a research note on Friday, August 4th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $8.00.
The company’s market capitalization is $97.57 million. The company has a 50 day moving average of $3.80 and a 200-day moving average of $2.97.
AcelRx Pharmaceuticals (NASDAQ:ACRX) last announced its earnings results on Tuesday, August 1st. The specialty pharmaceutical company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($0.01). The business had revenue of $2.66 million during the quarter, compared to analysts’ expectations of $2.63 million. On average, equities analysts forecast that AcelRx Pharmaceuticals, Inc. will post ($1.13) EPS for the current fiscal year.
In other news, CEO Vincent J. Angotti acquired 15,000 shares of the company’s stock in a transaction dated Thursday, August 24th. The shares were bought at an average price of $3.00 per share, with a total value of $45,000.00. Following the purchase, the chief executive officer now owns 15,000 shares of the company’s stock, valued at $45,000. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Lawrence G. Hamel sold 10,161 shares of the business’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $5.29, for a total value of $53,751.69. Following the completion of the sale, the insider now directly owns 16,379 shares in the company, valued at approximately $86,644.91. The disclosure for this sale can be found here. Insiders bought a total of 37,000 shares of company stock worth $112,280 in the last three months. Company insiders own 28.10% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of ACRX. Teachers Advisors LLC raised its stake in shares of AcelRx Pharmaceuticals by 14.6% in the 4th quarter. Teachers Advisors LLC now owns 66,715 shares of the specialty pharmaceutical company’s stock worth $173,000 after buying an additional 8,475 shares in the last quarter. Virtu KCG Holdings LLC raised its stake in shares of AcelRx Pharmaceuticals by 600.9% in the 2nd quarter. Virtu KCG Holdings LLC now owns 118,675 shares of the specialty pharmaceutical company’s stock worth $255,000 after buying an additional 101,742 shares in the last quarter. LMR Partners LLP bought a new stake in shares of AcelRx Pharmaceuticals in the 2nd quarter worth $319,000. Bank of New York Mellon Corp raised its stake in shares of AcelRx Pharmaceuticals by 6.6% in 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 buying an additional 6,942 shares in the last quarter. Finally, WealthTrust Axiom LLC raised its stake in shares of AcelRx Pharmaceuticals by 50.0% in the 2nd quarter. WealthTrust Axiom LLC now owns 210,000 shares of the specialty pharmaceutical company’s stock worth $451,000 after buying an additional 70,000 shares in the last quarter. 23.32% of the stock is currently owned by institutional investors.
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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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