AcelRx Pharmaceuticals Inc. (NASDAQ:ACRX) shot up 5.1% on Tuesday . The stock traded as high as $3.17 and last traded at $3.11, with a volume of 260,918 shares changing hands. The stock had previously closed at $2.96.

A number of equities research analysts recently commented on the company. Cowen and Company restated a “hold” rating on shares of AcelRx Pharmaceuticals in a research report on Monday, May 2nd. HC Wainwright restated a “buy” rating and set a $7.00 price target (down from $9.00) on shares of AcelRx Pharmaceuticals in a research report on Tuesday, May 3rd. Seaport Global Securities upgraded AcelRx Pharmaceuticals from an “accumulate” rating to a “buy” rating in a research report on Friday, May 6th. Janney Montgomery Scott assumed coverage on AcelRx Pharmaceuticals in a research report on Thursday, April 14th. They set a “neutral” rating on the stock. Finally, Jefferies Group restated a “buy” rating on shares of AcelRx Pharmaceuticals in a research report on Friday, June 10th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $7.63.

The company’s 50-day moving average price is $3.06 and its 200 day moving average price is $3.36. The stock’s market cap is $139.56 million.

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

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

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

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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