AcelRx Pharmaceuticals Inc. (ACRX) Shares Up 3.6%
AcelRx Pharmaceuticals Inc. (NASDAQ:ACRX) shot up 3.6% during trading on Thursday . The company traded as high as $3.15 and last traded at $3.14, with a volume of 143,112 shares changing hands. The stock had previously closed at $3.03.
A number of brokerages have commented on ACRX. Jefferies Group reissued a “buy” rating on shares of AcelRx Pharmaceuticals in a research note on Friday, June 10th. Seaport Global Securities raised AcelRx Pharmaceuticals from an “accumulate” rating to a “buy” rating in a research note on Friday, May 6th. Cowen and Company reissued a “hold” rating on shares of AcelRx Pharmaceuticals in a research note on Monday, May 2nd. HC Wainwright reissued a “buy” rating and issued a $7.00 price objective (down previously from $9.00) on shares of AcelRx Pharmaceuticals in a research note on Tuesday, May 3rd. Finally, Janney Montgomery Scott began coverage on AcelRx Pharmaceuticals in a research note on Thursday, April 14th. They issued a “neutral” rating for the company. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $7.63.
The company’s market cap is $139.56 million. The stock’s 50-day moving average is $2.91 and its 200 day moving average is $3.30.
AcelRx Pharmaceuticals (NASDAQ:ACRX) last issued its earnings results on Thursday, July 28th. The specialty pharmaceutical company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.22) by $0.02. The business earned $4.53 million during the quarter, compared to analyst estimates of $2.17 million. Equities analysts forecast that AcelRx Pharmaceuticals Inc. will post ($0.89) EPS for the current year.
In other news, Director Mark G. Edwards purchased 15,000 shares of the company’s stock in a transaction dated Thursday, May 12th. The shares were purchased at an average cost of $3.15 per share, for a total transaction of $47,250.00. Following the purchase, the director now directly owns 105,000 shares in the company, valued at approximately $330,750. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Howard B. Rosen purchased 10,206 shares of the company’s stock in a transaction dated Friday, May 13th. The stock was purchased at an average price of $3.26 per share, for a total transaction of $33,271.56. Following the completion of the purchase, the chief executive officer now owns 50,000 shares in the company, valued at $163,000. The disclosure for this purchase can be found here.
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.
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