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

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

The firm has a 50-day moving average of $3.05 and a 200 day moving average of $3.36. The stock’s market cap is $135.71 million.

AcelRx Pharmaceuticals (NASDAQ:ACRX) last announced its earnings results on Monday, May 2nd. The specialty pharmaceutical company reported ($0.24) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.20) by $0.04. The company earned $1.80 million during the quarter, compared to analysts’ expectations of $1.62 million. On average, equities research analysts predict that AcelRx Pharmaceuticals Inc. will post ($0.89) earnings per share for the current fiscal year.

In related news, Director Mark G. Edwards purchased 15,000 shares of the company’s stock in a transaction on Thursday, May 12th. The shares were bought at an average price of $3.15 per share, with a total value of $47,250.00. Following the completion of the acquisition, the director now owns 105,000 shares of the company’s stock, valued at $330,750. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Howard B. Rosen purchased 10,206 shares of the company’s stock in a transaction on Friday, May 13th. The stock was bought at an average cost of $3.26 per share, for a total transaction of $33,271.56. Following the acquisition, the chief executive officer now directly 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 stake in shares of AcelRx Pharmaceuticals Inc. (NASDAQ:ACRX) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 440,485 shares of the specialty pharmaceutical company’s stock, valued at approximately $1,718,000. Oxford Asset Management owned approximately 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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