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AcelRx Pharmaceuticals, Inc. (ACRX) Earns Buy Rating from Jefferies Group LLC
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Separately, Zacks Investment Research raised shares of AcelRx Pharmaceuticals from a hold rating to a buy rating and set a $3.00 price target on the stock in a research report on Wednesday, May 3rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $8.67.
AcelRx Pharmaceuticals (NASDAQ:ACRX) traded down 1.59% during trading on Friday, reaching $3.10. 3,146,235 shares of the company’s stock traded hands. AcelRx Pharmaceuticals has a one year low of $1.95 and a one year high of $4.08. The firm’s market capitalization is $140.68 million. The company has a 50-day moving average price of $2.42 and a 200 day moving average price of $2.75.
AcelRx Pharmaceuticals (NASDAQ:ACRX) last released its earnings results on Monday, May 8th. The specialty pharmaceutical company reported ($0.34) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.28) by $0.06. AcelRx Pharmaceuticals had a negative return on equity of 478.66% and a negative net margin of 273.65%. The business had revenue of $3.11 million for the quarter, compared to analysts’ expectations of $2.36 million. On average, analysts anticipate that AcelRx Pharmaceuticals will post ($1.15) earnings per share for the current fiscal year.
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In other AcelRx Pharmaceuticals news, major shareholder Life Sciences Maste Perceptive sold 875,000 shares of the company’s stock in a transaction dated Monday, June 19th. The shares were sold at an average price of $2.40, for a total value of $2,100,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 28.10% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of ACRX. Bank of New York Mellon Corp boosted its position in 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 worth $355,000 after buying an additional 6,942 shares during the last quarter. ING Groep NV boosted its position in AcelRx Pharmaceuticals by 200.0% in the first quarter. ING Groep NV now owns 39,000 shares of the specialty pharmaceutical company’s stock worth $123,000 after buying an additional 26,000 shares during the last quarter. Acadian Asset Management LLC boosted its position in AcelRx Pharmaceuticals by 326.1% in the first quarter. Acadian Asset Management LLC now owns 41,927 shares of the specialty pharmaceutical company’s stock worth $132,000 after buying an additional 32,087 shares during the last quarter. Finally, Teachers Advisors LLC boosted its position in AcelRx Pharmaceuticals by 14.6% in 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 during the last quarter. 30.27% of the stock is currently owned by institutional investors.
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.