AcelRx Pharmaceuticals (NASDAQ:ACRX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The firm presently has a $2.50 price target on the specialty pharmaceutical company’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 21.95% from the stock’s previous close.
According to Zacks, “AcelRx Pharmaceuticals, Inc., is a specialty pharmaceutical company focused on the development and commercialization of therapies for the treatment of pain. The Company product candidates comprises: ARX-01 or the Sufentanil NanoTab PCA System; ARX-02 or the Sufentanil NanoTab BTP Management System; and ARX-03 or the Sufentanil/Triazolam NanoTab which are in their development stage. Its product ARX-01 is focused on acute post-operative pain, ARX-02 is focused on the treatment of cancer breakthrough pain and ARX-03 is focused on providing mild sedation, anxiety reduction, and pain relief to patients undergoing painful procedures in a physician’s office. AcelRx Pharmaceuticals, Inc. is headquartered in Redwood City, California. “
ACRX has been the subject of a number of other reports. HC Wainwright reaffirmed a “buy” rating and set a $5.00 price target on shares of AcelRx Pharmaceuticals in a research report on Friday, October 27th. ValuEngine raised AcelRx Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Tuesday, September 26th. Royal Bank of Canada decreased their price target on AcelRx Pharmaceuticals from $6.00 to $5.00 and set an “outperform” rating for the company in a research report on Friday, October 13th. Jefferies Group downgraded AcelRx Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday, October 13th. Finally, Roth Capital set a $8.00 price target on AcelRx Pharmaceuticals and gave the company a “buy” rating in a research report on Thursday, October 12th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company’s stock. AcelRx Pharmaceuticals presently has an average rating of “Hold” and an average target price of $6.21.
AcelRx Pharmaceuticals (NASDAQ:ACRX) last issued its quarterly earnings data on Thursday, November 9th. The specialty pharmaceutical company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.02). equities research analysts expect that AcelRx Pharmaceuticals will post -1.06 earnings per share for the current year.
In other AcelRx Pharmaceuticals news, Director Mark G. Edwards acquired 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 14th. The stock was bought at an average price of $1.90 per share, with a total value of $57,000.00. Following the completion of the purchase, the director now owns 150,000 shares of the company’s stock, valued at $285,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 28.10% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of ACRX. Goldman Sachs Group Inc. bought a new stake in AcelRx Pharmaceuticals during the second quarter valued at $530,000. Virtu KCG Holdings LLC boosted its stake 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 valued at $255,000 after buying an additional 101,742 shares during the period. Geller Family Office Services LLC bought a new stake in AcelRx Pharmaceuticals during the third quarter valued at $460,000. Finally, Perennial Advisors LLC bought a new stake in AcelRx Pharmaceuticals during the third quarter valued at $138,000. 13.70% of the stock is owned by institutional investors.
COPYRIGHT VIOLATION NOTICE: “Zacks Investment Research Upgrades AcelRx Pharmaceuticals (ACRX) to “Buy”” was first reported by StockNewsTimes and is the sole property of of StockNewsTimes. If you are reading this story on another publication, it was copied illegally and reposted in violation of U.S. and international trademark and copyright law. The original version of this story can be read at https://stocknewstimes.com/2018/01/18/zacks-investment-research-upgrades-acelrx-pharmaceuticals-acrx-to-buy.html.
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.
Receive News & Ratings for AcelRx Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AcelRx Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.