Shares of 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. The stock had previously closed at $2.96.

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

The firm’s market cap is $136.84 million. The firm has a 50 day moving average price of $3.04 and a 200-day moving average price of $3.36.

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

In other news, CEO Howard B. Rosen purchased 10,206 shares of the business’s stock in a transaction on Friday, May 13th. The shares were acquired at an average price of $3.26 per share, with a total value of $33,271.56. Following the acquisition, the chief executive officer now directly owns 50,000 shares in the company, valued at $163,000. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Mark G. Edwards purchased 15,000 shares of the business’s stock in a transaction on Thursday, May 12th. The stock was purchased at an average cost of $3.15 per share, for a total transaction of $47,250.00. Following the acquisition, the director now owns 105,000 shares in the company, valued at $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 purchased a new position in AcelRx Pharmaceuticals Inc. (NASDAQ:ACRX) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 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 at the end of the most recent reporting period.

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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