Jefferies Group LLC lowered shares of AcelRx Pharmaceuticals, Inc. (NASDAQ:ACRX) from a buy rating to a hold rating in a report issued on Friday, Marketbeat.com reports.
A number of other analysts have also recently weighed in on ACRX. Cowen and Company reaffirmed a hold rating on shares of AcelRx Pharmaceuticals in a research report on Tuesday, August 1st. ValuEngine raised AcelRx Pharmaceuticals from a strong sell rating to a sell rating in a research report on Tuesday, September 26th. Zacks Investment Research raised AcelRx Pharmaceuticals from a sell rating to a hold rating in a research report on Friday, August 4th. Roth Capital set a $8.00 price objective on AcelRx Pharmaceuticals and gave the stock a buy rating in a research report on Thursday, October 12th. Finally, Piper Jaffray Companies set a $3.00 price target on AcelRx Pharmaceuticals and gave the company a hold rating in a report on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. AcelRx Pharmaceuticals currently has an average rating of Hold and an average target price of $7.67.
AcelRx Pharmaceuticals (NASDAQ ACRX) opened at 1.95 on Friday. The firm has a 50-day moving average price of $3.80 and a 200-day moving average price of $2.97. The firm’s market capitalization is $88.49 million. AcelRx Pharmaceuticals has a one year low of $1.90 and a one year high of $5.75.
AcelRx Pharmaceuticals (NASDAQ:ACRX) last posted its quarterly earnings data on Tuesday, August 1st. The specialty pharmaceutical company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.01). The business had revenue of $2.66 million during the quarter, compared to the consensus estimate of $2.63 million. Equities analysts anticipate that AcelRx Pharmaceuticals will post ($1.13) earnings per share for the current year.
In other news, CEO Vincent J. Angotti acquired 15,000 shares of AcelRx Pharmaceuticals stock in a transaction that occurred on Thursday, August 24th. The stock was purchased 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 owns 15,000 shares in the company, valued at approximately $45,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Pamela P. Palmer acquired 10,000 shares of AcelRx Pharmaceuticals stock in a transaction that occurred on Tuesday, August 22nd. The shares were purchased at an average cost of $2.95 per share, with a total value of $29,500.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 37,000 shares of company stock valued at $112,280. 28.10% of the stock is currently owned by insiders.
A number of hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp raised its holdings in AcelRx Pharmaceuticals by 6.6% during the first 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 during the last quarter. Teachers Advisors LLC increased its position in AcelRx Pharmaceuticals by 14.6% during the fourth 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. WealthTrust Axiom LLC increased its position in AcelRx Pharmaceuticals by 50.0% during the second 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. Virtu KCG Holdings LLC increased its position in AcelRx Pharmaceuticals by 600.9% during the second 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. Finally, LMR Partners LLP purchased a new position in AcelRx Pharmaceuticals during the second quarter worth $319,000. 23.32% of the stock is owned by hedge funds and other institutional investors.
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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