AcelRx Pharmaceuticals Inc. (NASDAQ:ACRX) fell 1.3% during mid-day trading on Monday . The company traded as low as $2.92 and last traded at $2.94, with a volume of 128,421 shares changing hands. The stock had previously closed at $2.98.

A number of research firms recently issued reports on ACRX. Cowen and Company restated a “hold” rating on shares of AcelRx Pharmaceuticals in a report on Monday, March 14th. Janney Montgomery Scott began coverage on shares of AcelRx Pharmaceuticals in a report on Thursday, April 14th. They issued a “neutral” rating for the company. HC Wainwright restated a “buy” rating and issued a $7.00 target price (down from $9.00) on shares of AcelRx Pharmaceuticals in a report on Tuesday, May 3rd. Jefferies Group restated a “buy” rating on shares of AcelRx Pharmaceuticals in a report on Friday, June 10th. Finally, Seaport Global Securities upgraded shares of AcelRx Pharmaceuticals from an “accumulate” rating to a “buy” rating in a report on Friday, May 6th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. AcelRx Pharmaceuticals has a consensus rating of “Hold” and an average target price of $7.63.

The stock has a 50 day moving average of $3.07 and a 200-day moving average of $3.38. The firm’s market capitalization is $134.12 million.

AcelRx Pharmaceuticals (NASDAQ:ACRX) last issued its quarterly earnings results on Monday, May 2nd. The specialty pharmaceutical company reported ($0.24) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.20) by $0.04. The business had revenue of $1.80 million for the quarter, compared to the consensus estimate of $1.62 million. Analysts predict that AcelRx Pharmaceuticals Inc. will post ($0.89) EPS for the current year.

In other AcelRx Pharmaceuticals news, CEO Howard B. Rosen purchased 10,206 shares of the business’s stock in a transaction on Friday, May 13th. The stock was bought at an average cost of $3.26 per share, with a total value of $33,271.56. Following the acquisition, the chief executive officer now owns 50,000 shares of the company’s stock, valued at $163,000. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mark G. Edwards purchased 15,000 shares of the business’s stock in a transaction on Thursday, May 12th. The stock was acquired at an average cost of $3.15 per share, with a total value of $47,250.00. Following the completion of the acquisition, the director now directly owns 105,000 shares in the company, valued at approximately $330,750. The disclosure for this purchase can be found here.

A hedge fund recently bought a new stake in AcelRx Pharmaceuticals stock. Oxford Asset Management acquired a new position in shares of AcelRx Pharmaceuticals Inc. (NASDAQ:ACRX) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 440,485 shares of the specialty pharmaceutical company’s stock, valued at approximately $1,718,000. Oxford Asset Management owned about 0.99% of AcelRx Pharmaceuticals as of its most recent SEC filing.

AcelRx Pharmaceuticals, Inc is a development-stage specialty pharmaceutical company focused on the development and commercialization of therapies for the treatment of acute pain. The Company’s lead product candidate, Zalviso, is intended for the management of moderate-to-severe acute pain in hospitalized adult patients.

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